The Emergence of China's Bank Failure: Imposition of Card Freezing and Withdrawal Limitations, as Financial Crisis Looms
Based on information released on Aug. 26 by the CBIRC, the China Banking and Insurance Regulatory Commission, the commission has allowed two rural banks in Liaoning Province to enter bankruptcy proceedings, which is tantamount to officially declaring the bankruptcy of the two grassroots village banks. At the same time, a growing number of personal bank cards and even corporate accounts are being frozen in China, and the situation is also spreading in China's first-tier cities. Have questions? Do you have something to share with us about China? We want to hear from you! Email: Cinsights.subscription@gmail.com Facebook www.facebook.com/EyesOnChina. Your support allows us to produce more high-quality videos. Consider donating at Copyright @ China Insights 2021. Any illegal reproduction of this content in any form will result in immediate action against the person(s) concerned.... ( read more )
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