China FX regulator fines AgBank over FX related wrongdoings, ET LegalWorld | Court Practice News



China’s foreign exchange regulator fined Agricultural Bank of China 5.53 million yuan ($776,129) over some foreign exchange related wrongdoings.

The State Administration of Foreign Exchange’s Beijing bureau also gave a warning to the lender while it confiscated illegal gains of about 1.42 million yuan, according to an online statement.

The lender did not immediately respond to Reuters request for comment. ($1 = 7.1251 Chinese yuan) (Reporting by Beijing Newsroom; Editing by Jacqueline Wong)

  • Published On Nov 30, 2023 at 12:57 AM IST

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