The strong regulatory trend in the payments industry continues to deepen. Recently, according to the latest administrative licensing information on the official website of the People's Bank of China, Shengya Yunding Payment Co., Ltd. entered the “Canceled Licensing Agencies” list. This is the 5th payment license to be cancelled during the year. On the one hand, the industry is speeding up clearance, and on the other hand, huge fines are being intensively disclosed. Recently, Shanghai Hanyin Information Technology Co., Ltd. was fined about 74.45 million yuan for violating liquidation management regulations, etc., breaking the record for a single penalty within the new year. Also, according to the Securities Times reporter's statistics, as of July 13, the total amount of fines paid by payment institutions during the year had exceeded 305 million yuan.

The strong regulatory trend in the payments industry continues to deepen. Recently, according to the latest administrative licensing information on the official website of the People's Bank of China, Shengya Yunding Payment Co., Ltd. entered the “Canceled Licensing Agencies” list. This is the 5th payment license to be cancelled during the year. On the one hand, the industry is speeding up clearance, and on the other hand, huge fines are being intensively disclosed. Recently, Shanghai Hanyin Information Technology Co., Ltd. was fined about 74.45 million yuan for violating liquidation management regulations, etc., breaking the record for a single penalty within the new year. Also, according to the Securities Times reporter's statistics, as of July 13, the total amount of fines paid by payment institutions during the year had exceeded 305 million yuan.