Pudong Development Bank of the Property Market for Violating Blood Transfusion was fined for over 30 banks in 2.9 million years

 Pudong Development Bank of the Property Market for Violating Blood Transfusion was fined for over 30 banks in 2.9 million years

On October 10, the Beijing Banking and Insurance Regulatory Bureau issued a recent large fine, of which Pudong Development Bank Beijing Branch was fined 2.9 million yuan, including illegal blood transfusion property market. The date on which the punishment decision was made was 8 October.

The announcement shows that due to the transfer of credit funds into fixed deposit receipts and the use of them in issuing bank acceptance bills, handling entrusted loan business in violation of regulations and inadequate monitoring of funds, the Beijing Branch of Pudong Development Bank has violated the regulations of credit funds for investment and house purchase, the management of individual loan business is not in place, the management of bill business is in serious violation of prudent business rules, and the investment in the same industry is irregular in issuing land deposits through trust channels. Provision of loans, illegal use of financial funds for borrowers to pay land transfer fees, illegal investment of financial funds through trust channels into construction projects with incomplete approval documents and other reasons were ordered to correct, and a total of 2.9 million yuan was fined.

According to statistics from Beijing News, more than 30 banks have received fines for real estate business violations during the year, covering state-owned banks, joint-stock banks, urban agricultural commercial banks and rural credit cooperatives. Just on November 11, the Beijing Branch of Bohai Bank was fined 1.2 million yuan for illegal use of financial funds in real estate development enterprises to pay land transfer prices, and for illegal investment in real estate projects with incomplete four certificates.

Since the second quarter of this year, the voice of many departments has been densely referring to real estate, and the financing of banks, trusts, bonds and other housing enterprises has been tightened in an all-round way. For example, at the meeting of the Political Bureau of the Central Committee of the Communist Party of China held on 30 July, the first proposal was not to use real estate as a short-term means of stimulating the economy; at the executive meeting of the State Council held on 4 September, it was proposed that the special debt funds of local governments should not be used in land reserve and real estate related fields.

Industry insiders believe that in recent months, real estate regulation has been stringent, coupled with the landing of the permit in mid-last month, the announcement of the ticket has a very clear warning significance, to avoid reducing the permit to stimulate funds to enter the real estate irregularly. Zhang Hongwei, Director of Tong Ce Consulting Research Center, said that the current policy window guidance firewall for real estate funds has been cast, even if there is money in the market, it is difficult to enter the real estate market irregularly. In the short run, at least until the fourth quarter, the regulation of the real estate market will continue, and the market adjustment fundamentals will remain unchanged.

Source: Han Jiapeng_NN9841, responsible editor of Beijing News