China urges world to ignore protesters storming banks for cash OLASMEDIA TV NEWSThis is what we have for you today:
China’s state-owned company Global times claimed on Tuesday that Western media unnecessarily protested about 1,000 people in Zhengzhou, China, on Sunday, with participants demanding that several rural banks release millions of dollars in deposits after unceremoniously freezing them in April, ignoring the fact that Chinese security personnel are physically different protesters assaulted and injured during the rally.
The editors of the Chinese Communist Party-controlled newspaper wrote the following on July 12:
Chinese experts on Tuesday refuted recent hype in Western media about problems with four rural banks in central China’s Henan province, which have attracted much attention and swift regulatory action, noting that the cases are “isolated” and not a nationwide systemic risk. and China has the ability to avoid major financial risk after years of efforts to establish a multi-layer financial risk aversion mechanism.
An estimated 1,000 people participated at a meeting outside the Zhengzhou branch of the Chinese central bank on July 10 to demand the bank release millions of dollars in deposits that had been frozen without explanation in April. Multiple people told Several media outlets, including Reuters and the Associated Press (AP), said they were physically assaulted by bank security personnel and police officers while demonstrating on Sunday.
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Reuters published video footage from Sunday’s protest shows security personnel using a heavy hand to crack down on the bank meeting in Zhengzhou, the capital of China’s Henan province. The music video showed protesters standing outside the Zhengzhou branch of the People’s Bank of China on Sunday with posters reading “No Deposit, No Human Rights” and “Against the Corruption and Violence of Henan Provincial Government.”
The recording further captured several skirmishes that broke out between rallies and security personnel. Authorities trying to contain the protest urged the crowd to disperse through loudspeaker announcements, reportedly stating: “Your actions have been deemed illegal. Departure in 10 minutes. If you don’t follow instructions from the staff on the ground, if you don’t leave and if you continue to disrupt society, the police will take strict action.”
“Several protesters told the AP that some people had been hospitalized after being injured when police and plainclothes security officers used force to disperse the protesters, although most of the injuries were scrapes or cuts,” the news agency said. reported on July 12.
People in China affected by the central bank’s decision to freeze millions of dollars in deposits in April have spent months trying to withdraw their deposits, culminating in Sunday’s roughly 1,000-strong protest in Zhengzhou.
In this photo, released by Yang on Sunday, July 10, 2022, people are holding banners and chanting slogans during a protest at the entrance of a branch of China’s Central Bank in Zhengzhou, Henan Province in central China. A large mob of angry Chinese bank deposits faced police on Sunday, some allegedly injured when they were rudely carried away, in a case that has attracted attention over past attempts to use a COVID-19 tracking app to prevent that they mobilized. (AP Photo/Yang)
A number of affected bank customers attempted to travel to Zhengzhou in mid-June to withdraw their frozen assets. Authorities responsible for China’s central bank have illegally halted their efforts and abused a government health code system by making the codes of relevant customers “red” so that they could not visit the bank, despite the fact that the affected persons that in fact were not. , with a higher risk of spreading the Chinese coronavirus. Bank authorities illegally changed some customers’ health codes back to “red” on July 8 after learning more people were trying to get their frozen assets back in Henan.
The Global times confirmed the incidents on July 8, to write†
Some savers of small rural banks, registered in Henan province and allegedly caught illegal fundraising, discovered that their health codes turned red for unknown reasons when they tried to arrive in Henan to withdraw their money, raising suspicions of abuse of the health code system in the province.
Later investigations by the disciplinary authorities found that officials at the epidemic prevention and control headquarters of the provincial capital of Zhengzhou made the decision without authorization and asked a big data company to implement the change.
It is estimated that 1,317 customers with savings at the rural banks had their health codes changed and five officials were punished after the disciplinary inspection.
The Chinese central bank branches affected by the deposit freeze are registered in Henan and include Zhecheng Huanghuai Community Bank, Yuzhou Xinminsheng Village Bank and Shangcai Huimin Country Bank.
Representatives of China’s central bank released a series of statements late Monday claiming that “customers with deposits of 50,000 yuan (about $7,400) or less would be refunded. They said others with larger bank balances would get their money back at a later, unspecified date,” the AP reported on Tuesday.
“They made this announcement because we risked our lives. This less than 50,000 yuan is not what we owe. It’s more of a payment to maintain social stability,” an affected bank customer named Ding told the news agency.
Ding said she and her husband “were hit by plainclothes security personnel” while participating in the protest outside the Zhengzhou branch of the People’s Bank of China on July 10.