Protests Over Bank Account Access in China Turn Violent
Summary from the AllSides News Team
On Sunday, Chinese authorities appeared to violently disperse a protest outside the Zhengzhou branch of the Chinese Central Bank.
The protest was against the freezing of bank accounts due to COVID-19 policies, according to protesters, and reports from sources across the political spectrum suggest that police beat protesters. More than 1,000 protesters were met by police that reportedly outnumbered them three to one. The protests focused on three banks serving primarily rural communities that have frozen millions of dollars worth of deposits since April, while informing customers they were updating their internal systems.
The Chinese government will reportedly probe two banks — the Shangcai Huimin Country Bank and the Yuzhou Xinminsheng Village Bank — but hasn't announced further action. Economic unrest continues in China as the country continues to attempt to stamp out COVID-19 outbreaks within its borders. The protest comes at a politically sensitive time for the ruling Communist Party, just months before its leader President Xi Jinping is expected to seek an unprecedented third term at a key meeting this fall.
Reports from left to right covered the protests and claims of police beating peaceful protesters.
Featured Coverage of this Story
From the Right
Chinese cops 'beat' protesters outraged at having bank accounts frozenChinese police "beat" citizens who gathered to protest against having their bank accounts frozen due to COVID-19 policies on Sunday, according to protesters.
Protests centered on three banks serving primarily rural communities that have frozen millions of dollars in accounts since April. Roughly 1,000 protesters gathered to call for the release of their funds outside the Zhengzhou branch of the Chinese Central Bank, but they say they were met with violence.
"I feel so aggrieved I can't even explain it to you," one protester, going only by the name Zhang, told...
From the Left
China crushes mass protest by bank depositors demanding their life savings backChinese authorities on Sunday violently dispersed a peaceful protest by hundreds of depositors, who sought in vain to demand their life savings back from banks that have run into a deepening cash crisis.
Since April, four rural banks in China's central Henan province have frozen millions of dollars worth of deposits, threatening the livelihoods of hundreds of thousands of customers in an economy already battered by draconian Covid lockdowns.
Anguished depositors have staged several demonstrations in the city of Zhengzhou, the provincial capital of Henan, over the past two months, but...
From the Center
Chinese protesters demanding bank deposits tussle with security menSeveral people protesting in the Chinese city of Zhengzhou over the freezing of deposits by some rural-based banks said they were injured on Sunday when heavy-handed security personnel dispersed the crowd.
The banks froze millions of dollars worth of deposits in April, telling customers they were upgrading their internal systems. read more The banks have not issued any communication on the matter since, depositors said.
None of the banks has responded to emails and telephone calls seeking comment. Chinese media has reported that the frozen deposits could be worth up to $1.5...
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