Financials Jul 29, 2021 07:50 AM (GMT+8) · EqualOcean
On July 27, the Shanghai Banking and insurance regulatory bureau announced 17 fines at one go. Without exception, the causes of punishment involved the illegal inflow of credit funds into real estate. The objects of punishment involved branches, branches and financial companies of many banks. The 17 fines totaled 9.1 million yuan. Li Wanfu, an analyst at rong360 big data research institute, said that the regulators have always strictly prohibited the illegal inflow of credit funds into real estate. Since this year, the prevention has been strengthened and the investigation and punishment has been more strict. The fines cover a wide range, involving a number of joint-stock banks and state-owned banks. The high amount of fines reveals the firm attitude of the regulators.

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