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Chinese Banks Freeze Billions In Deposits: Officials Use Health QR Code To Bar Protesters

June 17th, 2022
Categories: News

Link: https://www.activistpost.com/2022/06/chinese-banks-freeze-billions-in-deposits-officials-use-health-qr-code-to-bar-protesters.html

Chinese local banks are freezing deposits. Protesters cannot go near banks as their health app for COVID-19 turns red. Authorities provided no explanation. Tens of thousands of bank depositors fought to recover their savings for more than two months. The crisis started in April when at least four lenders in Henan froze cash withdrawals, citing internal system upgrades. Customers said neither banks nor officials offered any information on why or how long, prompting angry protests outside office of the banking regulator in Zhengzhou in May. 1 million customers reportedly affected, which left many residents’ life savings at stake and patients unable to pay for regular medical care .Depositors have been cut off for at least 39.7 billion yuan ($5.91 billion),

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