On February 22, the Chinese peopleBank(hereinafter referred to as the “central bank”) notified the penalty for refusing to accept RMB cash in the fourth quarter of 2021.
The circular pointed out that in the fourth quarter of 2021, the central bank will impose economic penalties on 32 units and relevant responsible persons who refuse to accept cash in accordance with the law.
A reporter from Beijing Business Daily found that someinsuranceA company branch was fined for refusing the public to use RMB cash to pay premiums.Specifically, the property of the Chinese peopleinsuranceThe Gangneung branch of the Co., Ltd. was fined 9,000 yuan, and Yongan PropertyinsuranceThe Changzhi Central Branch of the Company Limited was fined 50,000 yuan.
The People’s Bank of China stated that when the public encounters the behavior of rejecting cash, they canBankannouncement(No. 18, 2020), safeguarding rights in accordance with the law. The majority of business entities should strengthen the concept of the rule of law, maintain the legal status of the renminbi, operate with integrity, respect the public’s right to choose payment, improve services, and jointly create a harmonious cash flow environment.
(Article source: Beijing Business Daily)
Article source: Beijing Business Daily
Responsible editor: 10
Original title: PICC P&C, Yongan P&C and other insurance companies were fined by the central bank for refusing to accept cash
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