Chongqing mechanical and electrical bureau fined 750000 yuan for illegal foreign loans
China economic network, Beijing, Nov. 26 the decision on administrative penalty (YHF [2019] No. 11) released recently by the website of the State Administration of * * shows that Chongqing mechanical and Electrical Co., Ltd. borrows money from foreign countries without authorization. According to Article 43 of the regulations of the people's Republic of China on the administration of the people's Republic of China, Chongqing Administration Department of the State Administration of the people's Republic of China has given it a warning and imposed a fine of 750000 yuan.
According to the inquiry of China Economic reporter, the official website shows that Chongqing electromechanical Co., Ltd. (hereinafter referred to as "Chongqing electromechanical") is approved by Chongqing Municipal People's government and Chongqing state owned assets supervision and Administration Commission, and is jointly operated by Chongqing electromechanical holding (Group) Co., Ltd. and Chongqing yufu asset operation and Management Co., Ltd., Chongqing Construction Engineering Group Co., Ltd. and China Huarong Asset Management Co., Ltd Four wholly state-owned companies, such as Si, were jointly established in the form of sponsorship, which was a joint stock limited company established on July 27, 2007. It was successfully listed in Hong Kong on June 13, 2008, with the stock code of 2722.hk.
As of June 30, 2019, Chongqing electromechanical holding (Group) Co., Ltd. is the largest shareholder of Chongqing Electromechanical industry, holding 1.924 billion shares directly, accounting for 52.22% of the issued common shares; Chongqing Yufu Asset Management Group Co., Ltd. holds 232 million shares directly, accounting for 6.3% of the issued common shares; Chongqing Construction Engineering Group Co., Ltd. holds 232 million shares directly, accounting for 6.2% of the issued common shares 3%; China Huarong Asset Management Co., Ltd. directly holds 196 million shares, accounting for 5.32% of the issued common shares.
Article 43 of the regulations of the people's Republic of China on the administration of * * stipulates that in case of violation of the administration of foreign debts, such as unauthorized foreign borrowing, issuance of bonds abroad or provision of foreign guarantees, the * * administrative organ shall give a warning and impose a fine of less than 30% of the illegal amount.
