Where a unit commits the crime mentioned in the preceding paragraph, it shall be fined, and the persons who are directly in charge and the other persons who are directly responsible for the crime shall be punished according to the provisions in the preceding paragraph.

Article 188 Any employee of a bank or of any other banking institution who, against regulations, issues letters of credit or other letters of guaranty, negotiable instruments, deposit certificates or certificates of financial standing, thus causing relatively heavy losses, shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention; if heavy losses are caused, he shall be sentenced to fixed-term imprisonment of not less than five years.

Where a unit commits the crime mentioned in the preceding paragraph, it shall be fined, and the persons who are directly in charge and the other persons who are directly responsible for the crime shall be punished according to the provisions in the preceding paragraph.

Article 189 Any employee of a bank or of any other banking institution who, in dealing with negotiable instruments, accepts, pays or guarantees a negotiable instrument which is at variance with the provisions in the Law on Negotiable Instruments, thus causing heavy losses, shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention; if especially heavy losses are caused, he shall be sentenced to fixed-term imprisonment of not less than five years.

Where a unit commits the crime mentioned in the preceding paragraph, it shall be fined, and the persons who are directly in charge and the other persons who are directly responsible for the crime shall be punished according to the provisions in the preceding paragraph.

Article 190 Any State-owned company, enterprise or any other State-owned unit that, against State regulations, deposits foreign exchange outside China or illegally transfers foreign exchange inside China out to any other countries shall, if the circumstances are serious, be fined, and the persons who are directly in charge and the other persons who are directly responsible for the crime shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention.

Article 191 Whoever, while clearly knowing that the funds are proceeds illegally obtained from drug-related crimes or from crimes committed by mafias or smugglers and gains derived therefrom, commits any of the following acts in order to cover up or conceal the source or nature of the funds shall, in addition to being confiscated of the said proceeds and gains, be sentenced to fixed-term imprisonment of not more than five years or criminal detention and shall also, or shall only, be fined not less than five percent but not more than 20 percent of the amount of money laundried; if the circumstances are serious, he shall be sentenced to fixed-term imprisonment of not less than five but not more than 10 years and shall also be fined not less than five percent but not more than 20 percent of the amount of money laundried:

(1) providing fund accounts;

(2) helping exchange property into cash or any financial negotiable instruments;

(3) helping transfer capital through transferring accounts or any other form of settlement;

(4) helping remit funds to any other country; or

(5) covering up or concealing by any other means the nature or source of the illegally obtained proceeds and the gains derived therefrom.

Where a unit commits any of the crimes mentioned in the preceding paragraph, it shall be fined, and the persons who are directly in charge and the other persons who are directly responsible for the crime shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention.

Section 5 Crimes of Financial Fraud

Article 192 Whoever, for the purpose of illegal possession, unlawfully raises funds by means of fraud shall, if the amount involved is relatively large, be sentenced to fixed-term imprisonment of not more than five years or criminal detention and shall also be fined not less than 20,000 yuan but not more than 200,000 yuan; if the amount involved is huge, or if there are other serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than five years but not more than 10 years and shall also be fined not less than 50,000 yuan but not more than 500,000 yuan; if the amount involved is especially huge, or if there are other especially serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than 10 years or life imprisonment and shall also be fined not less than 50,000 yuan but not more than 500,000 yuan or be sentenced to confiscation of property.

Article 193 Whoever commits any of the following acts to defraud a bank or any other financial institution of loans for the purpose of illegal possession shall, if the amount involved is relatively large, be sentenced to fixed-term imprisonment of not more than five years or criminal detention and shall also be fined not less than 20,000 yuan but not more than 200,000 yuan; if the amount involved is huge, or if there are other serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than five years but not more than 10 years and shall also be fined not less than 50,000 yuan but not more than 500,000 yuan; if the amount involved is especially huge, or if there are other especially serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than 10 years or life imprisonment and shall also be fined not less than 50,000 yuan but not more than 500,000 yuan or be sentenced to confiscation of property:

(1) inventing false reasons for obtaining funds, projects, etc. from abroad;

(2) using a false economic contract;

(3) using a false supporting document;

(4) using a false property right certificate as guaranty or repeatedly using the same mortgaged property as guaranty in excess of its value; or

(5) defrauding loans by any other means.