On May 9, the Qingdao branch of China Merchants Bank Co., Ltd. was penalized for multiple regulatory violations. According to the administrative penalty decision information published by the People's Bank of China Qingdao Branch, the branch was found to have breached financial statistical regulations, violated rules on the circulation of the Renminbi, and failed to comply with regulations on anti-counterfeiting currency operations. Additionally, the financial institution was cited for non-compliance in the collection, provision, and inquiry of credit information, as well as for not conducting customer due diligence as required. As a result, the branch received a warning and was fined 383,600 yuan.

The administrative penalty decision, numbered Qing Yin Fa Jue Zi [2026] No. 3, was issued by the People's Bank of China Qingdao Branch on April 30, 2026. The penalty will be publicly disclosed for a period of three years.