Massive Protests By Chinese Bank Depositors Demanding Their Life Savings Back Crushed By Security Forces

 

CNN: China crushes mass protest by bank depositors demanding their life savings back 

Hong Kong CNN — Chinese authorities on Sunday violently dispersed a peaceful protest by hundreds of depositors, who sought in vain to demand their life savings back from banks that have run into a deepening cash crisis. 

Since April, four rural banks in China’s central Henan province have frozen millions of dollars worth of deposits, threatening the livelihoods of hundreds of thousands of customers in an economy already battered by draconian Covid lockdowns. 

Anguished depositors have staged several demonstrations in the city of Zhengzhou, the provincial capital of Henan, over the past two months, but their demands have invariably fallen on deaf ears. 

On Sunday, more than 1,000 depositors from across China gathered outside the Zhengzhou branch of the country’s central bank, the People’s Bank of China, to launch their largest protest yet, more than half a dozen protesters told CNN.  

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WNU Editor: My friends in China are telling me that millions are going to lose their life savings, and the central government has no interest to intervene to cover these massive losses.

 Massive Protests By Chinese Bank Depositors Demanding Their Life Savings Back Crushed By Security Forces  

More Protests Erupt in China Over Bank Scam as Anger Simmers -- Bloomberg  

Protest in China over frozen bank accounts ends in violence -- The Guardian  

Protesting bank depositors in China beaten by mob as police stand by -- Washington Post

Chinese cops 'beat' protesters outraged at having bank accounts frozen -- FOX News

China detains alleged bank fraud 'gang' after protests against financial corruption turned violent -- ABC News Australia