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Chinese regulator fines six banks for WMP-related breaches

The Chinese Banking and Insurance Regulatory Commission (CBIRC) has fined six local banks over multiple regulatory breaches, focusing on misconducts relating to wealth management products (WMPs). A total fine of RMB 156.3 million was imposed on six lenders, namely China Zheshang Bank, China Minsheng Bank, China Everbright Bank, China CITIC Bank, China Bohai Bank, and Bank of Communications. China Zheshang…

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