On August 29th, the website of the State Administration of Financial Supervision and Administration of China disclosed that the Shenzhen branch of Youli Bank (China) Co., Ltd. (referred to as Youli Bank) was fined 1.3 million yuan by the Shenzhen Supervision Bureau of the State Administration of Financial Supervision and Administration of China on August 23, 2024 for illegal and irregular practices in "using improper means to absorb deposits and issue loans". At the same time, Wang Yajun, the then customer manager of Youli Bank Shenzhen Branch, was warned and punished for using improper means to absorb deposits and issue loans to Youli Bank Shenzhen Branch.
[align center] Website of the State Administration of Financial Supervision