Chinese authorities repay more depositors amid banking scandal
Analysts say the banking crisis in Henan and Anhui could precipitate more rural bank runs
Chinese authorities in Henan and Anhui today (August 1) started repaying more depositors whose savings have been frozen for months amid a rural banking scandal.
But the crisis has already dealt a blow to people’s trust in the banking system, and it is unclear whether depositors will get all their money back, observers say.
Since April, hundreds of thousands of depositors at four rural banks in Henan and one in Anhui have been unable to take money out of their accounts. It later emerged that
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