On December 19, the People's Bank of China released administrative penalty information showing that the Bank of Communications was given a warning for violating account management regulations, etc., and also confiscated 239821.16 million yuan of illegal proceeds and fined 678.343 million yuan. In response, the Bank of Communications stated that from November 2022 to April 2023, the People's Bank of China carried out comprehensive law enforcement inspections on the Bank of Communications. This punishment was based on the issues discovered during the above law enforcement inspection. The issues involved in the punishment all occurred before 2023. “The Bank of Commerce sincerely accepts this and attaches great importance to it. It has completed the rectification work, and used the rectification of the problem as an opportunity to seriously reverse the situation and continuously optimize the long-term mechanism. The Bank will continue to strengthen internal control compliance management, cultivate a prudent and prudent management culture, continuously improve the level of management, and promote high-quality development to achieve new results.” The name of the bank.

On December 19, the People's Bank of China released administrative penalty information showing that the Bank of Communications was given a warning for violating account management regulations, etc., and also confiscated 239821.16 million yuan of illegal proceeds and fined 678.343 million yuan. In response, the Bank of Communications stated that from November 2022 to April 2023, the People's Bank of China carried out comprehensive law enforcement inspections on the Bank of Communications. This punishment was based on the issues discovered during the above law enforcement inspection. The issues involved in the punishment all occurred before 2023. “The Bank of Commerce sincerely accepts this and attaches great importance to it. It has completed the rectification work, and used the rectification of the problem as an opportunity to seriously reverse the situation and continuously optimize the long-term mechanism. The Bank will continue to strengthen internal control compliance management, cultivate a prudent and prudent management culture, continuously improve the level of management, and promote high-quality development to achieve new results.” The name of the bank.