November 26, 2019 / 8:30 AM / 20 days ago

China FX regulator fines JD.com's Chinabank Payments for illegal FX transfer

SHANGHAI, Nov 26 (Reuters) - The Beijing office of China’s foreign exchange regulator issued a 29.43 million yuan fine on Chinabank Payments, a unit fully owned by the e-commerce company JD.com, for illegally transferring foreign currencies from onshore to overseas.

The State Administration of Foreign Exchange (SAFE) said in a statement published on its website, without giving further details.

JD.com did not immediately respond to Reuters’ requests for comment. (Reporting by Winni Zhou, Andrew Galbraith and Brenda Goh, editing by Louise Heavens)

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