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IPFS News Link • China

Intimidation, crackdowns blow the lid off Chinese rural banking scandal

• https://www.france24.com, Sébastian SEIBT

Authorities in China's central Henan province, located around 680 kilometres south of Beijing, finally issued a promise this week. Days after security officials violently broke up a protest of angry bank customers, Henan authorities said they would begin reimbursing account holders at the heart of one of China's largest financial scandals in recent years.

The pledge, however, is unlikely to reassure hundreds of thousands of account holders denied access to their funds for months, the South China Morning Post reported on Wednesday.

For starters, the reimbursements only concern small account holders, whose bank deposits do not exceed 50,000 yuan (7,414 euros). For customers with larger deposits, their redressal time has been postponed to a hypothetical "near future".


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