People's Bank of China Issues Draft Rules on Blacklisting Serious Financial Offenders on May 18

According to Jin10, on May 18, the People’s Bank of China issued a draft management measure for its blacklist system targeting serious financial offenders. The regulation aims to standardize punishment measures for individuals and institutions in banking, payment systems, currency circulation, and credit reporting sectors that violate laws, severely disrupt financial market order, or harm public interests. The central bank stated it will strengthen enforcement against serious financial misconduct and promote a credit environment based on “incentivizing integrity and penalizing dishonesty.”