CBIRC Issues 2491 Penalties Since Start of 2019, Targets Real Estate-related Lending
China’s peak regulator for the banking and insurance sectors has issued nearly 2500 fines since the start of 2019, with analysts pointing to a heavy focus on real estate-related infractions.
The China Banking and Insurance Regulatory Commission (CBIRC) has issued a total of 2491 penalties this year as of 29 August according to data from its official website.
In sharp contrast its peer agency the China Securities Regulatory Commission (CSRC) has issued only 107 penalties, according to a report from Securities Daily.
Li Wanfu (李万赋), analyst with the 360 Research Institute, said that real estate-related lending would continue to be the focus for Chinese regulators, with an increase in regular inspections to “stopper leakages” of bank funds flowing into the property market illicitly.