Guangfa Bank has been fined 66.7 million yuan for violations of laws and regulations related to improperly managing loans, bills, and other business operations.

On September 12, the Administrative Penalty Information Disclosure Form released by the China Banking and Insurance Regulatory Commission showed that Guangfa Bank was fined 66.7 million yuan for illegal and irregular activities such as careless management of related loans, bills, factoring, and non-compliance with regulatory data reporting. The relevant responsible persons Li Gongfan and Chen Hui were warned and fined a total of 100,000 yuan.