On September 18, the Hebei regulatory authority of the National Financial Regulatory Administration released its administrative penalty disclosure, showing that China Citic Bank Corporation Limited's Shijiazhuang Weiming Street sub-branch was fined 350,000 yuan by the local regulator for inadequate pre-loan due diligence, which led to the improper acceptance and disbursement of loans.
Additionally, two individuals, Wu Zhichao and Yang Bei, received administrative penalties barring them from working in the banking industry for three years, while Wen Ning was issued a formal warning as part of the same enforcement action.
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