Chinese community banks are failing

[syed putra]

China Economy
WeChat rumour sparks run on rural Chinese bank in fresh sign of financial fragility amid economic slowdown

• Yichuan Rural Commercial Bank in Henan province suffered ‘concentrated cash withdrawals’ on Tuesday
• Authorities have already been forced to take over or recapitalise Baoshang Bank, the Bank of Jinzhou and Hengfeng Bank in the last six months

Yichuan Rural Commercial Bank did not specify the reason for the sudden demand for cash withdrawals, but confirmed on Wednesday that “services and operation are running normally”. Photo: EPA

Police in China arrested a woman after she spread a rumour via WeChat that “the local rural commercial bank is going bust”, leading to hundreds of customers rushing to withdraw cash from the lender in Henan province in the latest case to hit small regional banks during the economic slowdown.
The 29-year-old female, surnamed Wang, was detained by police in Yichuan county after “concentrated cash withdrawals” from Yichuan Rural Commercial Bank. She is expected to be punished with five days in a detention centre for “fabricating facts and disrupting social order”.
The bank did not specify the reason for the sudden demand for cash withdrawals, but confirmed on Wednesday that “services and operation are running normally”.
The local Communist Party discipline authority said in a statement on Wednesday that the bank’s chairman, Kang Fengli, 54, had been placed under investigation for possible serious violations of discipline and law.

 

[Leongsam]

Haha the Chinese are fucked thanks to Trump. This shows that Ang Mohs are the best and Trump is the best of the best!

 

[eatshitndie]

chicoms will have no choice but to sign the trade agreement with trump on November 16.9. trump is da best!

 

[congo9]

These chicoms has to play according to the rules of angmo Trump. The way they talk about peaceful rise reeks of hypocrisy. How they use their money to put other country in debt and indirectly colonise these indebted nation. Far too long, their financial banking and technology has been closely guarded by their state own enterprise, it will be good like angmo and Swiss Bank can go in and create a good grib on China's economy. Distributing wealth and rofit alll over again.

Maybe create another riot and break up China. Only a fragmented China is good for the world. A strong China will hold all the world hostage.

 

[Bad New Brown]

If the China economy collapse, many old farts in this forum will be

 

[whoami]

If the China economy collapse, many old farts in this forum will be

Esp Imperial scholar tanwahtiu. :(

 

[Bad New Brown]

Esp Imperial scholar tanwahtiu. :(

There are many more pro-china old farts in this forum

 

[laksaboy]

There are many more pro-china old farts in this forum

Pro-China is one thing. Pro-CCP is another.

Just like many of the 70% SInkies out there, they conflate political party/dynasty and the country.

If China in its current state were such a great country, its elites wouldn't be getting green cards in the USA, citizenship in Australia, the UK and even Sinkieland.

Li Xiaoyong, Li Peng's second son, now a Sinkieland citizen (Chinese Wikipedia entry)

 

[syed putra]

Why would any chinese elite abandon china for another chinese country?

 

[Bad New Brown]

Pro-China is one thing. Pro-CCP is another.

Just like many of the 70% SInkies out there, they conflate political party/dynasty and the country.

If China in its current state were such a great country, its elites wouldn't be getting green cards in the USA, citizenship in Australia, the UK and even Sinkieland.

Li Xiaoyong, Li Peng's second son, now a Sinkieland citizen (Chinese Wikipedia entry)

Please la, Pro-CCP

I feel like vomiting