Chinanews.com, February 3rd. The website of the State Administration of Foreign Exchange released on the 3rd the "Notice of Bank Foreign Exchange Violations", listing 11 typical cases of violations.
In accordance with the "Regulations of the People's Republic of China on Foreign Exchange Administration" (Order No. 532 of the State Council of the People's Republic of China), the State Administration of Foreign Exchange has strengthened the supervision of the foreign exchange market, severely cracked down on illegal activities in the foreign exchange field, focused on cracking down on false and deceptive foreign exchange transactions, and maintained the health of the foreign exchange market Good order.
According to the "Regulations of the People's Republic of China on Disclosure of Government Information" (Order No. 711 of the State Council of the People's Republic of China), some typical cases of violations are now notified as follows:
Case 1: China Development Bank Hainan Branch handled a trade foreign exchange payment case against regulations
From May 2016 to June 2018, the Hainan Branch of the China Development Bank failed to perform its audit duties and handled offshore transfer transactions for Hainan Huaxin International Holdings Co., Ltd. for foreign exchange payments.
According to Article 47 of the Regulations on Foreign Exchange Administration, the bank was ordered to make corrections, and the bank was fined 11.9791 million yuan.
Case 2: Construction Bank Qingdao Branch handled foreign exchange collection in violation of regulations
From January 2017 to May 2017, the Qingdao Branch of China Construction Bank transferred the creditor's rights related to stock domestic loans to overseas banking institutions without approval and received the consideration.
According to Article 47 of the Regulations on Foreign Exchange Administration, the bank was ordered to make corrections and the bank was fined 10.315 million yuan.
Case 3: Industrial and Commercial Bank of China Dongxing Sub-branch and China Construction Bank Dongxing Sub-branch handled trade foreign exchange payment cases against regulations
From January 2019 to July 2019, the Dongxing Sub-branch of Industrial and Commercial Bank of China and Dongxing Sub-branch of China Construction Bank failed to fulfill their audit responsibilities and handled foreign exchange payments for border mutual trade in violation of regulations.
According to Article 47 of the "Regulations on Foreign Exchange Administration," the two banks were ordered to make corrections, and the two banks were fined 929,200 yuan and 918,400 yuan respectively.
Case 4: Bank of Communications Co., Ltd. Heilongjiang Branch handled a trade foreign exchange payment case against regulations
From January 2016 to April 2018, the Heilongjiang Branch of Bank of Communications Co., Ltd. failed to fulfill its audit responsibilities and handled foreign exchange payment for re-export trade in violation of regulations.
According to Article 47 of the Regulations on Foreign Exchange Administration, the bank was ordered to make corrections, and the bank was fined 809,200 yuan.
Case 5: China Minsheng Bank, China Merchants Bank, and China CITIC Bank handled foreign exchange sales in violation of regulations
From September 2016 to August 2019, China Minsheng Bank, China Merchants Bank, and China CITIC Bank failed to fulfill their audit responsibilities and handled foreign exchange sales under bank cards in violation of regulations.
In accordance with Article 47 of the Regulations on Foreign Exchange Administration, three banks were ordered to make corrections, and they were fined 2.4108 million yuan, 1.838 million yuan, and 1.0618 million yuan respectively.
Case 6: China Everbright Bank Xi'an Branch handled foreign exchange collection in violation of regulations
From April 2016 to August 2018, the Xi'an Branch of China Everbright Bank failed to fulfill its audit responsibilities and handled the service trade foreign exchange collection business in violation of regulations.
According to Article 47 of the Regulations on Foreign Exchange Administration, the bank was ordered to make corrections and a fine of 603,000 yuan was imposed.
Case 7: China Commercial Bank Shenzhen Science and Technology Park Sub-branch handled overseas loans under domestic guarantee against regulations
From January to July 2017, the Shenzhen Science and Technology Park Sub-branch of China Commercial Bank failed to fulfill its audit responsibilities and handled overseas loans under domestic guarantees in violation of regulations.
According to Article 43 of the Regulations on Foreign Exchange Administration, the bank was given a warning and fined 2,393,600 yuan.
Case 8: China Guangfa Bank Wenzhou Branch handled an overseas loan case under domestic guarantee against regulations
From January 2015 to February 2016, China Guangfa Bank Wenzhou Branch failed to fulfill its audit responsibilities and handled overseas loans under domestic guarantees in violation of regulations.
According to Article 43 of the Regulations on Foreign Exchange Administration, the bank was warned and fined 17.64 million yuan.
Case 9: Foreign exchange settlement by Changzhou Branch of Agricultural Development Bank in violation of regulations
In June 2018, the Changzhou Branch of the Agricultural Development Bank failed to fulfill its audit responsibilities and handled false foreign exchange settlement and payment services for foreign investment capital in violation of regulations.
According to Article 47 of the Regulations on Foreign Exchange Administration, the bank was ordered to make corrections, and the bank was fined 800,300 yuan.
Case 10: Hua Xia Bank Suzhou Branch handled foreign exchange settlement in violation of regulations
From April to December 2018, Hua Xia Bank Suzhou Branch failed to fulfill its audit responsibilities and handled false foreign exchange settlement and payment services for foreign investment capital in violation of regulations.
According to Article 47 of the Regulations on Foreign Exchange Administration, the bank was ordered to make corrections, and the bank was fined 901,000 yuan.
Case 11: Zhejiang Yiwu Rural Commercial Bank handled foreign exchange collection and settlement in violation of regulations
From May 2017 to January 2019, Zhejiang Yiwu Rural Commercial Bank failed to fulfill its audit responsibilities and handled false trade collection and settlement business in violation of regulations.
According to Article 47 of the Regulations on Foreign Exchange Administration, the bank was ordered to make corrections, and the bank was fined 572,700 yuan.