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
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

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
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
READ FULL ARTICLE