Customers of Henan’s rural banks are continuing to seek access to their bank deposits, which have been frozen since April of last year. They are also searching for ways to let the outside world hear them voice their frustrations. On April 2, hundreds of Chinese deposit-holders gathered on a busy overpass in Zhengzhou city, Henan…

News Analysis The state of banks in China dominates concerns about the economy and global growth. With pictures of angry crowds outside banks and tanks on the street in one city to quell discontent about being unable to withdraw funds, it bears asking what the true state of Chinese banks is. Officially, Chinese banks are…

Wealthy Chinese are leaving China—or at least planning on leaving—as they cannot stand the draconian COVID measures. But will Chinese leader Xi Jinping allow it to happen if that means billions of dollars in cash go out of China amid the contractions and poor economy? Meanwhile, more banks in China suspend bank withdrawals using various…

Chinese police beat protestors who cannot withdraw from banks. Billions of dollars are stuck, a massive amount has vanished, and authorities are not giving an answer. What is behind the chaos over the weekend? And why are the protestors asking foreign media and the U.S. embassy to pay attention? Click the “Save” button below the…

BEIJING—Chinese banks are facing the threat of rising bad loans in the future as the current economic recovery is unbalanced and lacks a solid foundation, the country’s top banking and insurance watchdog said on Wednesday. Outstanding non-performing loans in the banking sector stood at 3.5 trillion yuan ($540.79 billion) by end of June, an increase…

A Chinese court has sentenced Hu Huaibang, the former chairman of China Development Bank (CDB), to life in prison on bribery-related crimes. He is the second high-profile financial executive to be sentenced this week. The Intermediate People’s Court of Chengde city, in China’s Hebei Province, handed down the sentence on Jan. 7. Hu’s personal property…