Chinese authorities violently dispersed a peaceful protest by hundreds of depositors, who sought in vain to demand their life savings back from banks that have run into a deepening cash crisis.
A version of this story appeared in CNN's Meanwhile in China newsletter, a three-times-a-week update exploring what you need to know about the country's rise and how it impacts the world. Sign up here.Since April, four rural banks in China's central Henan province have frozen millions of dollars worth of deposits, threatening the livelihoods of hundreds of thousands of customers in an economy already battered by draconian Covid lockdowns.
"I did not expect them to be so violent and shameless this time. There was no communication, no warning before they brutally dispersed us," said one depositor from a metropolis outside Henan who had protested in Zhengzhou previously, and who requested CNN conceal his name due to security concerns."Why would government employees beat us up? We're only ordinary people asking for our deposits back, we did nothing wrong," the Shandong woman said.
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