The Shanghai regulatory bureau of the National Financial Regulatory Administration has issued a fine.

The penalty notice reveals that Oriental International Group Finance Co., Ltd. was fined 300,000 yuan. The violation involved disbursing commercial property operation loans to assume entrusted loans.

In addition, Miao Wenwei, who served as the manager of the corporate finance department at the company at the time of the violation, received a separate penalty. He was given a warning and fined 50,000 yuan for his role in the same infraction.