China: A big banking scam has come to light in China. The situation is so bad that many banks have banned their customers from withdrawing money. As a result of which people are outraged and are protesting on the road. Demonstrations have turned violent in many places. In view of which tanks have been deployed around the bank. A video of which is going viral on social media. This video is from Henan province. Here many tanks are seen standing in a queue. The administration has ordered the deployment of tanks to prevent people from entering the bank. This photo is from Rizhao in the Shandong area. A tank was unloaded outside a local branch of a bank here.
Video from a village in Henan, China
Banks in China’s Henan villages promised people that their money would be disbursed by July 15. But only few depositors got payment and rest are still waiting. On July 10, more than 1,000 depositors were outside the branch in Zhengzhou. Bank of China is China’s central bank and its decision is leading to the country’s biggest ever demonstration. Some depositors were supposed to receive the money by July 15, according to a notice released by Henan’s Financial Supervision Bureau.
Why is the protest happening?
This is the reason why this protest is taking place. An article was published in the South China Morning Post. In which it was told about the scams in Chinese banks. It was claimed that 40 billion yuan, or about $6 billion, had gone missing from China’s banking system. After this, banks in Henan and Anhui provinces stopped people from using bank accounts. These people were told that a ‘system upgrade’ was taking place. New Oriental Country Bank of Kaifeng, Zicheng Huanghui Community Bank, Shanghai Huimin County Bank and Yuzhou Xin Min Sheng Village Bank were the most affected. People have been circling here for 3 months, but they are not even allowed inside the bank.
History repeats itself
Seeing the deployment of tanks on the roads, people are comparing it to the Tiananmen Square incident. In 1989, people demonstrated against the government in Tiananmen Square. At that time, the army attacked the protesters with tanks. More than 3000 people were killed. European media feared a massacre of 10,000 people.