On June 1, the Qinghai Regulatory Bureau of the China Banking and Insurance Regulatory Commission announced two penalties.
The administrative penalty information disclosure form shows that due to serious lack of due diligence in the “three inspections” of loans, working capital loans and credit loans were issued to enterprises that did not meet the application conditions for working capital loans and credit loans.According to Articles 46 and 48 of the Banking Supervision Law of the People's Republic of China, the Hainan Branch of the China Banking and Insurance Regulatory Commission imposed a fine of RMB 300,000 on Qinghai Xinghai Rural Commercial Bank Co., Ltd. Liu Deshun was fined RMB 60,000.
Another administrative penalty information disclosure form shows that due to inadequate post-loan management, some personal consumption loans flowed into real estate companies.According to Articles 46 and 48 of the "Banking Supervision and Administration Law of the People's Republic of China", the Hainan Branch of the China Banking and Insurance Regulatory Commission imposed a fine of RMB 250,000 on Qinghai Xinghai Rural Commercial Bank Co., Ltd.; He Shiyi imposed a fine of RMB 55,000; the person responsible, Liu Deshun, was warned.
