On October 31, financial authorities disclosed that China Minsheng Banking Corp., Ltd. (600016) has been fined 58.65 million yuan by the National Financial Regulatory Administration for non-prudent management of loans, bills, interbank businesses, and non-compliant regulatory data reporting, among other violations.

Additionally, six responsible individuals—Wang Zhouwu, Xiang Min, Li Bin, He Fan, Wang Zhongxiang, and Huang Shaohui—were given warnings and collectively fined 360,000 yuan.