China's Financial Regulators Issued 440 Million Yuan in Fines on the Banking Sector in the First Five Months, Amount Up 15% Year-on-Year

Statistics from the financial industry show that China's financial regulators issued 435 administrative penalty notices against the banking sector in the first 5 months, with cumulative penalties reaching 445 million yuan, up 15.3% year-on-year, of which rural commercial banks accounted for nearly half of the fines due to credit violations and other problems.