Tuesday, September 16, 2025

Depositors Protesting Chinese Banks Freezing Their Accounts Met Violent Dispersal

Instead of withdrawing their money, depositors of major rural banks in the Chinese city of Zhengzhou received violent dispersal by security personnel instead, with some sustaining injuries.

Around 1,000 protesters gathered before the Zhengzhou branch of China’s central bank, demanding access to their respective accounts. In April 2022, Yu Zhou Xin Min Sheng Village Bank, Shangcai Huimin Country Bank, and Zhecheng Huanghuai Community Bank all froze deposit accounts due to internal system upgrades.

According to Chinese media, the frozen deposits could be worth up to US$1.5 billion.

“They did not say they would beat us if we refused to leave. They just used the loudspeaker to say that we were breaking the law by petitioning. That’s ridiculous. It’s the banks that are breaking the law,” one of the protesters surnamed Zhang told Reuters.

The protesters originally planned to gather in front of the banking institution a month ago, but they were prevented from doing so as their health passes were changed to “no travel” status. The passes tied to Chinese citizens’ phones have been the government’s way of monitoring movement during the pandemic. This led to the depositors believing that the banks are in collusion with the government authorities.

“I can’t do anything, I can’t go anywhere. You’re treated as though you’re a criminal. It infringes on my human rights,” said another protester surnamed Liu to Reuters.

“They are putting digital handcuffs on us,” added another depositor from Sichuan province surnamed Chen.

While deposits are frozen, some bank clients report that they can access the account if they’re depositing money but not through withdrawals.

As of today, the banks haven’t released any statement regarding the matter. According to state media Global Times, the banks are being investigated for illegal fundraising.


Information for this briefing was found via Reuters. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

New Found Gold: The Strategic Maritime Resources Purchase

Amex Exploration: Revised Perron PEA Has INSANE Economics

Aris Mining: The Multi Billion Dollar Soto Norte PFS

Recommended

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Goliath Resources Hits 18.58 g/t Gold Over 5.00 Metres At Surebet

Related News

Singh Suddenly Sees The Bias In Johnston Report, Now Also Calls For Special Rapporteur To Resign

It seems it’s just dawning on New Democratic Party leader Jagmeet Singh what the impact...

Tuesday, May 30, 2023, 11:40:00 AM

Canada Bans TikTok On Government-Issued Devices

Canada is banning TikTok from all government-owned devices beginning Tuesday, February 28, citing concerns over...

Tuesday, February 28, 2023, 12:28:30 PM

European Firms Appeal To China To Relax Draconian Covid-19 Policies

China’s zero tolerance Covid-19 policy is beginning to take its toll on the country’s own...

Tuesday, April 12, 2022, 03:40:00 PM

India Wins As Companies Move Their Supply Chains Out Of China

For India, the nation poised to become the world’s third-largest economy by 2027, things just...

Wednesday, December 14, 2022, 12:00:00 PM

Is There Still “Mutual Respect” If China Allegedly Hacked The UK Ministry of Defence?

A massive hacking attack on the British military, suspected to be orchestrated by China, has...

Saturday, May 11, 2024, 12:11:00 PM