CHINA 3 banks declares bankrupt.
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Social media-fueled rumors about banks collapsing are popping up at an unprecedented frequency in China, forcing regulators and even the police to step in to calm depositors.
For decades, deposit-taking has provided a stable and low-cost funding base for China’s financial market, playing a key part in the rise of its economy to the second largest in the world. Chinese households hold about 90 trillion yuan ($13 trillion) of bank deposits, more than anywhere else in the world.
Regulators are now not only seeking to soothe nerves publicly, but are also raising the protection to preserve this cushion for banks. The run in Hebei came after authorities kicked off a pilot program to limit large transactions in the province.
The two-year program, which is set to be expanded to Zhejiang and Shenzhen in October to encompass 70 million people, would require retail clients to pre-report any large withdrawals or deposits of 100,000 yuan ($14,000) to 300,000 yuan.
For decades, deposit-taking has provided a stable and low-cost funding base for China’s financial market, playing a key part in the rise of its economy to the second largest in the world. Chinese households hold about 90 trillion yuan ($13 trillion) of bank deposits, more than anywhere else in the world.
Regulators are now not only seeking to soothe nerves publicly, but are also raising the protection to preserve this cushion for banks. The run in Hebei came after authorities kicked off a pilot program to limit large transactions in the province.
The two-year program, which is set to be expanded to Zhejiang and Shenzhen in October to encompass 70 million people, would require retail clients to pre-report any large withdrawals or deposits of 100,000 yuan ($14,000) to 300,000 yuan.
- Joined
- Oct 5, 2012
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Chinese are panicking about their banks collapsing after social media rumours
Confidence in the $43 trillion banking system is eroding among over 1 billion account holders in China, threatening a cornerstone of its rise into an economic powerhouse.
Shanghai: Social media-fueled rumors about banks collapsing are popping up at an unprecedented frequency in China, forcing regulators and even the police to step in to calm depositors.
Just since the past month, worried savers have descended on three banks to withdraw funds amid rumors of cash shortages that were later dismissed as false. Over the weekend customers rushed to a bank in the northern Hebei province to take out money, prompting local regulators to publicly vouch for the soundness of its lenders as the police halted the run.
Confidence in the $43 trillion banking system is eroding among the nation’s more than 1 billion account holders, threatening a cornerstone of China’s rise into an economic powerhouse. After several bailouts and the first bank seizure in more than two decades last year, the coronavirus outbreak and its economic fallout have exacerbated an already shaky situation in the world’s largest banking system.
Confidence in the $43 trillion banking system is eroding among over 1 billion account holders in China, threatening a cornerstone of its rise into an economic powerhouse.
Shanghai: Social media-fueled rumors about banks collapsing are popping up at an unprecedented frequency in China, forcing regulators and even the police to step in to calm depositors.
Just since the past month, worried savers have descended on three banks to withdraw funds amid rumors of cash shortages that were later dismissed as false. Over the weekend customers rushed to a bank in the northern Hebei province to take out money, prompting local regulators to publicly vouch for the soundness of its lenders as the police halted the run.
Confidence in the $43 trillion banking system is eroding among the nation’s more than 1 billion account holders, threatening a cornerstone of China’s rise into an economic powerhouse. After several bailouts and the first bank seizure in more than two decades last year, the coronavirus outbreak and its economic fallout have exacerbated an already shaky situation in the world’s largest banking system.
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The perception Chinese savers had of banks being risk free is changing even though in nearly all recent cases their deposits have been protected,” said Zhang Shuaishuai, a Shanghai-based analyst at China International Capital Corp. “Once a rumor like this spreads, it brings immediate liquidity risk to a bank.”
For decades, deposit-taking has provided a stable and low-cost funding base for China’s financial market, playing a key part in the rise of its economy to the second largest in the world. Chinese households hold about 90 trillion yuan ($13 trillion) of bank deposits, more than anywhere else in the world.
Regulators are now not only seeking to soothe nerves publicly, but are also raising the protection to preserve this cushion for banks. The run in Hebei came after authorities kicked off a pilot program to limit large transactions in the province.
The two-year program, which is set to be expanded to Zhejiang and Shenzhen in October to encompass 70 million people, would require retail clients to pre-report any large withdrawals or deposits of 100,000 yuan ($14,000) to 300,000 yuan.
The China Banking and Insurance Regulatory Commission on Saturday again warned that lenders are facing a surge in bad debt as the economy sputters at its slowest pace in four decades.
For decades, deposit-taking has provided a stable and low-cost funding base for China’s financial market, playing a key part in the rise of its economy to the second largest in the world. Chinese households hold about 90 trillion yuan ($13 trillion) of bank deposits, more than anywhere else in the world.
Regulators are now not only seeking to soothe nerves publicly, but are also raising the protection to preserve this cushion for banks. The run in Hebei came after authorities kicked off a pilot program to limit large transactions in the province.
The two-year program, which is set to be expanded to Zhejiang and Shenzhen in October to encompass 70 million people, would require retail clients to pre-report any large withdrawals or deposits of 100,000 yuan ($14,000) to 300,000 yuan.
The China Banking and Insurance Regulatory Commission on Saturday again warned that lenders are facing a surge in bad debt as the economy sputters at its slowest pace in four decades.
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While stopgap measures, which have included rolling over debt and delaying loan payments, have limited an immediate surge in bad debt, the regulator said the fundamental issues of poorly managed banks and the deteriorating ability of companies and individuals to repay loans are still far from solved. They are also asking banks to forgo 1.5 trillion yuan in profit this year by offering lower lending rates, cutting fees, deferring loan repayments, and granting more unsecured loans to small businesses to help the economy.
Authorities have more than 3,000 banks to oversee, most of which are small, rural entities without ready access to capital. In another unprecedented move, China now plans to allow local governments to use about 200 billion yuan from bond sales to help smaller banks replenish their capital.
The industry overall may suffer an 8 trillion yuan increase in bad debt this year, S&P Global has estimated. Small banks are facing a $349 billion shortfall in capital, according to an analysis by UBS Group AG. Putting that figure at only $50 billion, the regulator said the shortfall could mean slower profit growth or even sliding profits at some institutions.
Corporate bonds are also suffering, adding further pressure on banks. About 80 billion yuan worth of Chinese bonds defaulted on and offshore so far this year, the most in at least three years, according to data compiled by Bloomberg.
Authorities have more than 3,000 banks to oversee, most of which are small, rural entities without ready access to capital. In another unprecedented move, China now plans to allow local governments to use about 200 billion yuan from bond sales to help smaller banks replenish their capital.
The industry overall may suffer an 8 trillion yuan increase in bad debt this year, S&P Global has estimated. Small banks are facing a $349 billion shortfall in capital, according to an analysis by UBS Group AG. Putting that figure at only $50 billion, the regulator said the shortfall could mean slower profit growth or even sliding profits at some institutions.
Corporate bonds are also suffering, adding further pressure on banks. About 80 billion yuan worth of Chinese bonds defaulted on and offshore so far this year, the most in at least three years, according to data compiled by Bloomberg.
- Joined
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- Messages
- 19,749
- Points
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Rumors of Chinese banks collapsing are flooding social media in China. Worried customers have descended on several banks to withdraw their money. Police took people into custody, accusing them of spreading rumors.
Half of China’s important agricultural provinces have been impacted by the biggest flooding in decades. Peasants and the authorities are giving different pictures about food supply for this year.
Part of the plaque at the entrance to Wuhan’s City Hall is missing. One woman reportedly cut it off with an ax. With the virus cover-up, flooding, and less support from authorities, dissatisfaction in Wuhan is rising.
Beijing said on Friday any travel ban against Communist Party members would mean Washington stands against the entire Chinese population. But Chinese people took to social media to say they actually welcome the ban.
Half of China’s important agricultural provinces have been impacted by the biggest flooding in decades. Peasants and the authorities are giving different pictures about food supply for this year.
Part of the plaque at the entrance to Wuhan’s City Hall is missing. One woman reportedly cut it off with an ax. With the virus cover-up, flooding, and less support from authorities, dissatisfaction in Wuhan is rising.
Beijing said on Friday any travel ban against Communist Party members would mean Washington stands against the entire Chinese population. But Chinese people took to social media to say they actually welcome the ban.
- Joined
- Oct 5, 2012
- Messages
- 19,749
- Points
- 113
Lee Hsien Loong still wants to conspire with China to take down the US dollar. Bold move, Loong.
Loong is trying to save 30% portfolios.
Which has turned into ash , months ago
- Joined
- Oct 5, 2012
- Messages
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这两间银行竟然破产？！存款还拿得回来吗？
24 天前 · 来自专栏 保之道
很多人都觉得银行是最值得信任的地方，无论存款和理财，都不会亏；
但是实际上在新中国成立后，我国曾经有两间银行倒闭，应该很少人知道；
相信很多人在听到银行倒闭时，都觉得很不可思议。
那今天我们就来说说银行倒闭是怎么一回事，如果银行倒闭了，我们的存款和投资的理财产品能赔吗？
一、两间银行倒闭
倒闭的这两家银行分别叫海南发展银行和汕头市商业银行；
我们先来说说海南发展银行到底为什么倒闭了：
海南发展银行在1995年8月成立，在1998年6月关闭，短短的3年时间到底发生了什么？
海南发展银行成立的原因之一，是为了挽救当时被房地产泡沫影响的一些信托投资公司；
于是合并了其中5家信托投资公司成为海南发展银行。
在97年年底，又合并了28家有问题的信用社，导致海南发展银行的不良资产比例过大；
又因为当时海南的银行体制很混乱，监管不严格，很多信用社都喜欢提高自己的利息来吸引大家来储蓄；
海南发展银行不良资产比例大、资本金额又太少，搞得信誉很差，陷入了死循环里；
在98年年初，就有传言很多人在海南发展银行排队把存款取出来，一传十，十传百，引起恐慌，于是大家都跑去把存款拿出来；
即使国家和中国人民银行做了很多措施希望控制局面，最后还是不得不宣布关闭海南发展银行，据说至今还没完成破产清算。
而另一家汕头市商业银行，在1997年2月的时候成立，在2001年8月的时候停业；
同样因为高息揽存和帐外贷款等一系列的问题出现了支付危机，然后停业；
在接近十年的整改清算后，在2011年的时候重组成了广东华兴银行。
(图片来源于百度百科词条“广东华兴银行”)
除了这两间银行以外，在河北省也曾经发生过中国农村信用社破产的事情，尚村农信社成为了全国首家被批准破产的农信社；
就在今年，包商银行也由于管理不善而被新成立的新银行蒙商银行接管；
可见其实就算是银行也会因为决策失误、经济情况、政策等而导致破产倒闭或被接管，银行也不是绝对安全的存款地。
二、银行倒闭赔钱吗？
虽然银行倒闭的概率很小，但是很多人同样也担心，如果真的倒闭了，那我们的存款怎么办，会不会拿不回来？
我国在2015年5月1日就已经出台了《存款保险制度》，很多银行都向保险公司购买了保险；
一旦银行出现了经营问题，保险公司将会最高赔付50万；
也就是说如果你的存款没有超过50万的话，即使银行倒闭了你的钱还是可以拿回来的。
但是这样的情况只针对存款，意思也就是银行倒闭的话，只有活期存款、定期存款、大额存单才会有赔付；
而银行理财产品，则不在赔付范围内，通常这些银行理财产品，都是银行拿去做各种投资理财，再把赚到的利息返还给你；
如果是投投国债、基金这些都还算风险低，最怕是股票还有国际原油这些高风险投资；
之前中国银行就老马失蹄，弄了一个叫原油宝的理财产品；
搞得投资者们个个不仅亏了本金，还倒欠中国银行的钱。
如果是银行自营的产品，那也许还能讨个说法，像是原油宝的事情闹大了，最后也得到了解决方案；
但是有很多金融公司都会在银行卖产品，如果出问题，跟银行真的就没关系了；
我们在购买银行理财产品的时候，一定要注意看一下合同上的产品发行方是谁。
三、把钱存哪最安全？
如果是五年内都用不到的钱，其实我建议用来买年金险。
可能有些朋友会有疑问，年金险为啥跟存款扯上关系了？
因为放在年金险里的钱，具有极高的安全性，就连银行现在都向保险公司买保险了；
更何况是具有保险性质的年金险。
根据《保险法》第92条，人寿保险合同，国家是有兜底的：
而年金险，就是属于人寿保险的范畴内；
所以说，即使保险公司倒闭了，也不会影响年金险合同，只会转让给其他保险公司而已。
更何况，保险公司倒闭就和银行倒闭一样少见，首先保险公司的注册资本最低都得2亿元，其次，保险公司受国家保监局监管；
无论是运营情况、赔付能力等等都定期接受保监局的评估，如果出现问题，保监局会给出指导意见。
虽然年金险的利率比银行活期存款高很多，但是灵活性相对来说比较低；
所以我建议放进年金险里的钱至少5年都不需要动用，这样就省去很多麻烦。
四、最后说说年金险
相信看完这篇文章后，大家应该对银行存款和年金险的安全性都有了新的认识；
如果你对于自己的资产安全性有很高的追求，不妨可以投保年金险，虽然流动性不及银行活期存款高；
但是安全性很高，除此之外，利率和收益也更高。
如果想了解更多的年金险信息，欢迎关注公众号“年金险对比”，找我咨询。
希望今天的文章能帮到你，也欢迎分享给有需要的亲朋好友。
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24 天前 · 来自专栏 保之道
很多人都觉得银行是最值得信任的地方，无论存款和理财，都不会亏；
但是实际上在新中国成立后，我国曾经有两间银行倒闭，应该很少人知道；
相信很多人在听到银行倒闭时，都觉得很不可思议。
那今天我们就来说说银行倒闭是怎么一回事，如果银行倒闭了，我们的存款和投资的理财产品能赔吗？
一、两间银行倒闭
倒闭的这两家银行分别叫海南发展银行和汕头市商业银行；
我们先来说说海南发展银行到底为什么倒闭了：
海南发展银行在1995年8月成立，在1998年6月关闭，短短的3年时间到底发生了什么？
海南发展银行成立的原因之一，是为了挽救当时被房地产泡沫影响的一些信托投资公司；
于是合并了其中5家信托投资公司成为海南发展银行。
在97年年底，又合并了28家有问题的信用社，导致海南发展银行的不良资产比例过大；
又因为当时海南的银行体制很混乱，监管不严格，很多信用社都喜欢提高自己的利息来吸引大家来储蓄；
海南发展银行不良资产比例大、资本金额又太少，搞得信誉很差，陷入了死循环里；
在98年年初，就有传言很多人在海南发展银行排队把存款取出来，一传十，十传百，引起恐慌，于是大家都跑去把存款拿出来；
即使国家和中国人民银行做了很多措施希望控制局面，最后还是不得不宣布关闭海南发展银行，据说至今还没完成破产清算。
而另一家汕头市商业银行，在1997年2月的时候成立，在2001年8月的时候停业；
同样因为高息揽存和帐外贷款等一系列的问题出现了支付危机，然后停业；
在接近十年的整改清算后，在2011年的时候重组成了广东华兴银行。
(图片来源于百度百科词条“广东华兴银行”)
除了这两间银行以外，在河北省也曾经发生过中国农村信用社破产的事情，尚村农信社成为了全国首家被批准破产的农信社；
就在今年，包商银行也由于管理不善而被新成立的新银行蒙商银行接管；
可见其实就算是银行也会因为决策失误、经济情况、政策等而导致破产倒闭或被接管，银行也不是绝对安全的存款地。
二、银行倒闭赔钱吗？
虽然银行倒闭的概率很小，但是很多人同样也担心，如果真的倒闭了，那我们的存款怎么办，会不会拿不回来？
我国在2015年5月1日就已经出台了《存款保险制度》，很多银行都向保险公司购买了保险；
一旦银行出现了经营问题，保险公司将会最高赔付50万；
也就是说如果你的存款没有超过50万的话，即使银行倒闭了你的钱还是可以拿回来的。
但是这样的情况只针对存款，意思也就是银行倒闭的话，只有活期存款、定期存款、大额存单才会有赔付；
而银行理财产品，则不在赔付范围内，通常这些银行理财产品，都是银行拿去做各种投资理财，再把赚到的利息返还给你；
如果是投投国债、基金这些都还算风险低，最怕是股票还有国际原油这些高风险投资；
之前中国银行就老马失蹄，弄了一个叫原油宝的理财产品；
搞得投资者们个个不仅亏了本金，还倒欠中国银行的钱。
如果是银行自营的产品，那也许还能讨个说法，像是原油宝的事情闹大了，最后也得到了解决方案；
但是有很多金融公司都会在银行卖产品，如果出问题，跟银行真的就没关系了；
我们在购买银行理财产品的时候，一定要注意看一下合同上的产品发行方是谁。
三、把钱存哪最安全？
如果是五年内都用不到的钱，其实我建议用来买年金险。
可能有些朋友会有疑问，年金险为啥跟存款扯上关系了？
因为放在年金险里的钱，具有极高的安全性，就连银行现在都向保险公司买保险了；
更何况是具有保险性质的年金险。
根据《保险法》第92条，人寿保险合同，国家是有兜底的：
而年金险，就是属于人寿保险的范畴内；
所以说，即使保险公司倒闭了，也不会影响年金险合同，只会转让给其他保险公司而已。
更何况，保险公司倒闭就和银行倒闭一样少见，首先保险公司的注册资本最低都得2亿元，其次，保险公司受国家保监局监管；
无论是运营情况、赔付能力等等都定期接受保监局的评估，如果出现问题，保监局会给出指导意见。
虽然年金险的利率比银行活期存款高很多，但是灵活性相对来说比较低；
所以我建议放进年金险里的钱至少5年都不需要动用，这样就省去很多麻烦。
四、最后说说年金险
相信看完这篇文章后，大家应该对银行存款和年金险的安全性都有了新的认识；
如果你对于自己的资产安全性有很高的追求，不妨可以投保年金险，虽然流动性不及银行活期存款高；
但是安全性很高，除此之外，利率和收益也更高。
如果想了解更多的年金险信息，欢迎关注公众号“年金险对比”，找我咨询。
希望今天的文章能帮到你，也欢迎分享给有需要的亲朋好友。
往期保险产品文章：
全网重疾险产品总测评丨这7款重疾险，2020年，我给你的良心推荐！
2020年5月重疾险排名，我只推荐这8款！
2020年热门20款年金险对比，我只推荐9款！
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2020年最新12款防癌险对比，我只推荐这4款！
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2020最新少儿重疾险测评，好的就这6款！
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防癌险，这么买最靠谱！
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中荷今生有约年金险测评，理财渣想躺着赚钱只能靠它了
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那些骂4.025%年金险的，你们可住嘴吧！
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- Joined
- Jun 14, 2010
- Messages
- 2,704
- Points
- 113
How can there be collapses when China haven't even start printing money unlike the US Europe and Japan?
- Joined
- Jun 27, 2018
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- 30,488
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The chicoms can easily use the foreign reserves to line the pockets of its people. N dont most tiongs use wechat n online payments etc for everything?
- Joined
- Jan 27, 2009
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- 1,745
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Wonderful news! Soon the PRCs will be back on bicycles and begging on the roadsides where they belong.
- Joined
- Aug 10, 2008
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- 106,771
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- Joined
- Oct 5, 2012
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Soon when everyone withdrawing out.Those are all small banks. When (not if) this bank goes kaput, you know the end is near.
- Joined
- Oct 5, 2012
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2020 could see the collapse of China’s financial system.
By now all experts concur that post coronavirus, the world economy will not be the same and will take at least four-six quarters to recover. The over $14 trillion Chinese economy—second largest in the world—is also set to be completely altered, with some experts saying the setback could be permanent. For decades, China has been powering global manufacturing through its integrated supply chains on the back of large amounts of debt. Troubles are mounting for China since its years of profligacy on borrowed money has now resulted in its debt pile becoming extremely large at a time when its economy is contracting.
By now all experts concur that post coronavirus, the world economy will not be the same and will take at least four-six quarters to recover. The over $14 trillion Chinese economy—second largest in the world—is also set to be completely altered, with some experts saying the setback could be permanent. For decades, China has been powering global manufacturing through its integrated supply chains on the back of large amounts of debt. Troubles are mounting for China since its years of profligacy on borrowed money has now resulted in its debt pile becoming extremely large at a time when its economy is contracting.
- Joined
- Oct 19, 2008
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- 28,387
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Tiong Cock as a cuntry is already bankrupt, both morally and financially. Winnie Xi is taking desperate measures such as taxing overseas Tiongs and taking over profitable Tiong "private" companies by force.
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