Shanghai Bank responds to being fined by the central bank: The issue occurred between 2020 and 2021, and has been completely rectified.

Recently, the central bank issued a relevant administrative penalty decision to Shanghai Bank, warning the bank for its violations in the areas of payment settlement, currency gold and silver, state treasury, credit reporting, and anti-money laundering management, and confiscated illegal gains of 469,500 yuan, with a fine of 28,748,000 yuan. In response, reporters learned from Shanghai Bank that this penalty stemmed from a comprehensive law enforcement inspection conducted by the central bank in 2021, with the violations occurring between 2020 and 2021. Shanghai Bank stated that they take this matter seriously and have actively implemented corrective measures through improving their system, and have rectified all relevant issues in accordance with regulatory requirements.