People line up in front of a branch of Shanghai Pudong Development Bank Co. in Jinhua, eastern China’s Zhejiang Province, to buy commemorative coins in this file photo. Pudong Development Bank illegally lent 77.5 billion yuan (US$12 billion) over many years to 1,493 shell companies to take over bad loans at its Chengdu branch, the China Banking Regulatory Commission said in a statement late Friday. The regulator imposed a fine of 462 million yuan on the branch and said its senior executives will face prosecution. SD-Agencies |