In pics - Mass protest by bank depositors in China crushed by local authorities


Written By: Sayan Ghosh | Updated: Jul 11, 2022, 11:59 AM IST

Protesters in the Chinese city of Zhengzhou were dispersed by the authorities after they held demonstrations demanding their life savings amidst a massive cash crisis

Protest by hundreds of depositors

A peaceful protest by hundreds of depositors trying to get their life savings back from banks going through deep cash crisis was dispersed by the Chinese police


Four banks in trouble

Four rural banks in China's central Henan province are facing cash crisis after millions of dollars' worth of deposits were frozen. It resulted into a huge number of people missing out on their savings during the COVID-19 lockdowns


Protests in Zhengzhou

The protestors held massive demonstrations in Zhengzhou, the provincial capital of Henan, over the past two months


People's Bank of China

More than 1,000 depositors from across China gathered outside the Zhengzhou branch of the country's central bank, the People's Bank of China, in one of the largest protests in recent times


Police crackdown

The authorities did not take kindly to the protests as a number  of security officers suddenly clashed with protesters, who threw bottles and other small objects at them. The conflict was short-lived as the police ended the protest unceremoniously