People commute during the morning rush hour before the opening session of the National People's Congress (NPC) in Beijing on May 22, 2020. – China took the rare move of not setting an annual growth target this year after the coronavirus battered the world's second-largest economy and ravaged global growth, Premier Li Keqiang said on May 22. (Photo by NICOLAS ASFOURI / AFP)People commute during the morning rush hour before the opening session of the National People's Congress (NPC) in Beijing on May 22, 2020. – China took the rare move of not setting an annual growth target this year after the coronavirus battered the world's second-largest economy and ravaged global growth, Premier Li Keqiang said on May 22. (Photo by NICOLAS ASFOURI / AFP)
People commute during the morning rush hour before the opening session of the National People's Congress (NPC) in Beijing on May 22, 2020. – China took the rare move of not setting an annual growth target this year after the coronavirus battered the world's second-largest economy and ravaged global growth, Premier Li Keqiang said on May 22. (Photo by NICOLAS ASFOURI / AFP)

China’s banking system begins to crack at its grass roots as two bank runs take place within a week

  • Local governments and police in both Hebei and Shanxi provinces were forced to intervene after rumours concerning Baoding Bank and Yangquan Commercial Bank
  • China is hoping to rely on its small lenders amid the fallout from the coronavirus to provide funds to small factories and farmers

Topic |   China economy
People commute during the morning rush hour before the opening session of the National People's Congress (NPC) in Beijing on May 22, 2020. – China took the rare move of not setting an annual growth target this year after the coronavirus battered the world's second-largest economy and ravaged global growth, Premier Li Keqiang said on May 22. (Photo by NICOLAS ASFOURI / AFP)People commute during the morning rush hour before the opening session of the National People's Congress (NPC) in Beijing on May 22, 2020. – China took the rare move of not setting an annual growth target this year after the coronavirus battered the world's second-largest economy and ravaged global growth, Premier Li Keqiang said on May 22. (Photo by NICOLAS ASFOURI / AFP)
People commute during the morning rush hour before the opening session of the National People's Congress (NPC) in Beijing on May 22, 2020. – China took the rare move of not setting an annual growth target this year after the coronavirus battered the world's second-largest economy and ravaged global growth, Premier Li Keqiang said on May 22. (Photo by NICOLAS ASFOURI / AFP)
READ FULL ARTICLE
Close
We need your support

Advertising helps us continue to provide quality content. Help support us by disabling your adblocker on our site.

How to whitelist us:
  1. 1
    Click on the AdBlock icon at the top right corner of your browser.
    For iOS, go to Settings/Safari/Content Blockers and turn it off.

    For Android, go to your Ad blocker app/Settings and turn it off.
  2. 2
    Click Enabled on this site until the text reads Disabled on this site.
  3. 2
    Click the cross icon on the top right corner to close this window and refresh the page.
  4. 3
    Click the cross icon on the top right corner to close this window and refresh the page.