Rural banks to repay some clients after protests

By Agence France-Presse

Jul 13, 2022 12:14 am

BEIJING: Customers of rural Chinese banks whose withdrawals have been frozen will begin to get some money back on Friday, regulators said, after depositors clashed with authorities at a rare protest over the weekend.

China's rural banking sector has been hit hard by Beijing's efforts to rein in a property bubble and spiraling debt, in a financial crackdown that has had ripple effects across the world's second-largest economy.

This photo taken on Sunday, July 10, 2022 and handed out by an anonymous source shows protesters in front of a People’s Bank of China branch in the city of Zhengzhou, in central Henan province. AFP PHOTO

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