Chinese authorities step in amid banking crisis in Henan

People’s Bank of China
People’s Bank of China

Authorities in China’s Henan province said on July 11 they will start repaying customers whose deposits have been frozen by four rural banks at the centre of a banking crisis.

The latest announcement came a day after local authorities quelled a protest over the frozen funds at a branch of China’s central bank in Zhengzhou, Henan’s capital.

In a statement, the Henan Banking and Insurance Regulatory Bureau and the Henan Provincial Local Financial Supervision Bureau said “advance payments” will

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: