Yichuan Rural Commercial Bank did not specify the reason for the sudden demand for cash withdrawals, but confirmed on Wednesday that “services and operation are running normally”. Photo: EPA

WeChat rumour sparks run on rural Chinese bank in fresh sign of financial fragility amid economic slowdown

  • Yichuan Rural Commercial Bank in Henan province suffered ‘concentrated cash withdrawals’ on Tuesday
  • Authorities have already been forced to take over or recapitalise Baoshang Bank, the Bank of Jinzhou and Hengfeng Bank in the last six months
Topic |   China economy
Yichuan Rural Commercial Bank did not specify the reason for the sudden demand for cash withdrawals, but confirmed on Wednesday that “services and operation are running normally”. Photo: EPA
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