Caixin
Jul 12, 2022 04:32 AM
FINANCE

Henan to Reimburse Depositors Following Violent Protests

Individuals with deposits of up to $7,440 will be paid starting Friday.
Individuals with deposits of up to $7,440 will be paid starting Friday.

After hundreds of village bank depositors demanded their money in violent protests Sunday in Henan’s capital Zhengzhou, financial regulators in the central China province ordered payments of smaller amounts starting Friday and bigger totals later.

Videos circulated on social media Sunday showed angry groups of protesters clashing with police trying to disperse the crowds. Among banners carried by depositors, one read, “The Chinese dreams of 400,000 depositors in Henan have been shattered.”

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