---
title: "Another payment institution has been penalized! The industry reshuffle accelerates, with a cumulative cancellation of over 100 licenses"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/276615746.md"
description: "The Fujian Branch of the People's Bank of China imposed an administrative penalty on Fujian Xingyi Payment Technology Co., Ltd., fining it 8.4719 million yuan for illegal activities. The company is a subsidiary of the A-share listed company NEWLAND, and the industry reshuffle is accelerating, with more than 100 licenses canceled cumulatively"
datetime: "2026-02-23T14:55:08.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/276615746.md)
  - [en](https://longbridge.com/en/news/276615746.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/276615746.md)
---

# Another payment institution has been penalized! The industry reshuffle accelerates, with a cumulative cancellation of over 100 licenses

Recently, an administrative penalty information disclosed by the Fujian Branch of the People's Bank of China shows that Fujian Xingyi Payment Technology Co., Ltd. was warned and fined a total of 8.4719 million yuan for illegal activities. Public information indicates that the aforementioned payment institution is a holding subsidiary of the A-share listed company NEWLAND

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