
Henan officials pledge to release funds after China bank protest
Authorities in China’s Henan province say they will start releasing money to customers who have had their funds frozen by several rural banks. The announcement came just a day after a rare protest in Henan’s capital, Zhengzhou, turned violent. Payments will be made in batches from this Friday, local regulators say. The four banks that were the focus of the protests are believed to have frozen a total of 39bn yuan ($5.8bn; £4.9bn) of deposits. In a statement on Monday, the Henan Banking and Insurance Regulatory Bureau and the Henan Provincial Local Financial Supervision Bureau outlined the plans to make … Continue reading Henan officials pledge to release funds after China bank protest