Big cash transactions will require prior approval in Hebei province. Photo: Reuters
Big cash transactions will require prior approval in Hebei province. Photo: Reuters

China province orders new checks on big cash transactions after bank runs

  • New rules requiring documentation of large deposits and withdrawals is being rolled out in Hebei and will be extended to Zhejiang and Shenzhen
  • Depositors will have to say where they got the money from while withdrawer will have to say what they intend to do with the cash

Big cash transactions will require prior approval in Hebei province. Photo: Reuters
Big cash transactions will require prior approval in Hebei province. Photo: Reuters
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