CITIC Bank fined 800,000 yuan! One person is banned from the industry for 9 years.

On June 17th, the Yunnan Financial Regulatory Bureau fined China Citic Bank 800,000 yuan for violating regulations by issuing loans for working capital and processing bank acceptance bills without genuine trade background. They also revoked the lifelong qualification of senior management personnel from related responsible person Jie Peng, prohibiting them from engaging in banking work for 9 years, and issued warnings to Zhan Cong and Liu Jing.