On May 23, the fines disclosed on the website of the State Financial Supervisory Administration showed that China CITIC Financial Asset Management Co., Ltd. Gansu Branch (formerly China Huarong Asset Management Co., Ltd. Gansu Branch) was fined 400,000 yuan by the Gansu Supervisory Authority of the State Financial Supervisory Authority for not diligently examining the authenticity of non-financial institution bad claims. The 2 main responsible persons were punished at the same time. Zhou Zhihong, the former general manager of China Huarong Gansu Branch at the time, and Yang Wei, then the former deputy general manager of China's Huarong Gansu Branch, were both warned and fined 50,000 yuan. (Surge News)
因未尽职审查非金融机构不良债权的真实性，中信金融资产一分公司被罚40万元
CITIC Financial Assets Branch 1 was fined 400,000 yuan for failure to diligently examine the authenticity of non-performing claims of non-financial institutions
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