Due to inadequate implementation of the "three checks" in loans, Huaxia Bank's Wenzhou branch was fined 1.7 million yuan.

On August 27, the Administrative Penalty Information Disclosure Table issued by the Wenzhou Regulatory Branch of the National Financial Supervision and Administration Bureau showed that Huaxia Bank Co., Ltd. Wenzhou Branch was fined 1.7 million RMB for the main illegal acts of loans "three checks" not being in place, misappropriation of credit funds, and irregular issuance of loans under false names. The relevant person in charge, Chen Jiaqiang, was given a warning.