Yes, it constitutes a crime, and it constitutes a crime of fraudulent loans. The legal basis is as follows: \x0d\ Article 175- 1 of the Criminal Law: whoever obtains loans, bills of acceptance, letters of credit, letters of guarantee, etc. and defrauds the funds of banks or other financial institutions, thus causing heavy losses to banks or other financial institutions or other serious circumstances, shall be sentenced to fixed-term imprisonment of not more than three years or criminal detention and shall also or shall only be fined; Whoever causes particularly heavy losses to banks or other financial institutions or has other particularly serious circumstances shall be sentenced to fixed-term imprisonment of not less than three years but not more than seven years and shall also be fined. If a unit commits the crime mentioned in the preceding paragraph, it shall be fined, and the directly responsible person in charge and other directly responsible personnel shall be punished in accordance with the provisions of the preceding paragraph. \x0d\ Article 193 Whoever defrauds a bank or other financial institution of loans for the purpose of illegal possession under any of the following circumstances shall 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 is huge or there are other serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than five years but not more than ten years, and shall also be fined not less than 50,000 yuan but not more than 500,000 yuan; If the amount is especially huge or there are other particularly 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 his property shall be confiscated: \x0d\ (1) fabricating false reasons such as introducing funds and projects; \x0d\ (2) Using false economic contracts; \x0d\ (3) using false documents; \x0d\ (4) Using false property right certificate as guarantee or repeatedly guaranteeing beyond the value of collateral; \x0d\ (5) Obtaining loans by other means.