Elderly depositors seek information about the safety of their savings at a branch of Yingkou Costal Bank in Yingkou, Liaoning province, in 2019, when a run on the bank took place. Photo: Reuters
China’s rust-belt province of Liaoning merges 12 local banks into one ‘first-class’ bank as bad loans mount
- Liaoning’s economy grew 0.6 per cent last year, lower than the national average of 2.3 per cent and ranking 15th among the country’s 31 provincial jurisdictions
- Coronavirus-induced economic problems have only exacerbated economic woes, particularly in China’s rural areas
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China economy
Elderly depositors seek information about the safety of their savings at a branch of Yingkou Costal Bank in Yingkou, Liaoning province, in 2019, when a run on the bank took place. Photo: Reuters