Deposits at Yuzhou Xinminsheng Village Bank, Shangcai Huimin County Bank, Zhecheng Huanghuai Community Bank and New Oriental Country Bank of Kaifeng have been frozen since April 18, sparking a number of protests in the provincial capital of Zhengzhou. Photo:Weibo
Cash crisis amid China’s stalling economy: rural banks freeze accounts, regulators playing ‘pass the parcel’
- Deposits at four rural banks in the central Chinese province of Henan have been frozen since April 18, sparking protests in the provincial capital city of Zhengzhou
- President Xi Jinping has placed economic stability as a top priority and vowed to strengthen supervision within the state-dominated financial system
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Deposits at Yuzhou Xinminsheng Village Bank, Shangcai Huimin County Bank, Zhecheng Huanghuai Community Bank and New Oriental Country Bank of Kaifeng have been frozen since April 18, sparking a number of protests in the provincial capital of Zhengzhou. Photo:Weibo