Controversies

Penalized repeatedly by regulators over due diligence violations and unclear leasing property ownership

At the end of 2020, the Tianjin office of the China Banking and Insurance Regulatory Commission found that ICBC Financial Leasing had conducted due diligence in violation of regulations, had insufficient management over the investigation and confirmation of ownership of leased property, and had no right to use the business premises approved by the regulator. In July 2026, the Tianjin office of the National Financial Regulatory Administration further found that the company had problems including unclear ownership of leased property, imprudent risk classification, and service fees that did not match the quality and price of services. It was fined a total of 1.2 million yuan in 2020; in 2026 it was fined 800,000 yuan, and two responsible persons were given warnings.