Since January 2024, the People's Bank of China has imposed financial penalties on seven units verified as refusing to accept RMB cash and relevant responsible persons in accordance with the law, with fines ranging from 3,000 yuan to 55,000 yuan.
Specifically, the Songshan Branch of Chifeng City of China Post Group Co., Ltd. refused to allow the public to pay for express delivery fees in cash, gave it a warning, and imposed a fine of 3,000 yuan; The person directly responsible was given a warning and fined 600 yuan.
Baotou Furun Real Estate Development Co., Ltd. refused to allow the public to pay the housing price difference in cash, gave it a warning and imposed a fine of 55,000 yuan, and gave a warning to the person directly responsible and imposed a fine of 11,000 yuan.
Wuxi KFC Co., Ltd. refused to allow the public to use cash to buy breakfast, gave it a warning, and imposed a fine of 30,000 yuan; The person directly responsible was given a warning and fined 3,000 yuan.
Huai'an Huaiyin Branch Company of Chinese People's Property Insurance Co., Ltd. refused to allow the public to use cash to purchase insurance, gave it a warning, and imposed a fine of 50,000 yuan; The person directly responsible was given a warning and fined 10,000 yuan.
Changzhi Deyetong Catering Management Co., Ltd. refused to allow students to use cash to consume in the canteen, gave them a warning, and imposed a fine of 20,000 yuan; The legal representative and the person directly in charge were given warnings and fined 2,000 yuan each.
Ningxia Maierle Food Co., Ltd. refused to allow the public to use cash to buy bread, gave it a warning, and imposed a fine of 10,000 yuan; The person directly responsible will be given a warning and fined 1,000 yuan.
The Ningxia Branch of New China Life Insurance Co., Ltd. refused to allow the public to use cash to purchase insurance, gave it a warning, and imposed a fine of 30,000 yuan; The person directly responsible was given a warning and fined 5,000 yuan.
The central bank stressed that the majority of business entities should strengthen the concept of the rule of law, respect the public's right to pay, and jointly create a harmonious cash circulation environment. The People's Bank of China will continue to carry out the rectification of the refusal to accept RMB cash, effectively protect the legitimate rights and interests of consumers, and safeguard the status of RMB as a legal tender. When the public encounters the refusal to accept RMB cash, they can rely on the Announcement of the People's Bank of China (No. 18 of 2020) to protect their rights in accordance with the law.
Edited and released: China Enterprise Qingda Training Center: Tong Jinbei
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