Jiangsu Xinghua Rural Commercial Bank Fined 990,000 Yuan for Regulatory Breaches

Deep News03-19

On March 19, the Taizhou Branch of the People's Bank of China issued an administrative penalty decision against Jiangsu Xinghua Rural Commercial Bank. The bank was penalized for multiple regulatory violations, including breaches of financial statistics management rules, account management regulations, and bank card acceptance business rules. Additional infractions involved non-compliance with RMB circulation management requirements, failure to report suspicious transactions as required, and inadequate customer due diligence procedures. As a result, the bank received a warning and public censure, alongside a fine totaling 990,000 yuan.

The penalty decision, documented as reference number Tai Yin Fa Jue Zi [2026] No. 1, was formally issued by the People's Bank of China Taizhou Branch on March 17, 2026. The disclosure of this penalty will remain publicly available for a period of three years.

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