{"id":1549632,"date":"2022-07-12T06:00:13","date_gmt":"2022-07-12T10:00:13","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1549632"},"modified":"2022-07-12T06:04:51","modified_gmt":"2022-07-12T10:04:51","slug":"china-beats-citizens-for-storming-banks-over-frozen-assets","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/china-beats-citizens-for-storming-banks-over-frozen-assets\/","title":{"rendered":"China Beats Citizens for Storming Banks Over Frozen Assets"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fchina-beats-citizens-for-storming-banks-over-frozen-assets%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1549632&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><\/div>\n<section data-v-f313b7e6=\"\">\n<p>On Sunday, hundreds gathered in front of banks in the <a href=\"https:\/\/thepostmillennial.com\/china-ramping-up-efforts-to-collect-genetic-data\">Chinese<\/a> city of Zhengzhou after not being able to access their funds for months.<\/p>\n<\/section>\n<section data-v-f313b7e6=\"\">\n<p>The protesters were met with violent resistance from state security, however, those who authorities say are behind the sudden and unannounced freezing of bank accounts have been arrested.<\/p>\n<\/section>\n<section data-v-f313b7e6=\"\"><\/section>\n<section data-v-f313b7e6=\"\">\n<p><a href=\"https:\/\/www.abc.net.au\/news\/2022-07-12\/china-detains-alleged-bank-fraud-gang-after-rare-mass-protests\/101228984\">According<\/a> to the Australian Broadcasting Corporation, those in the central Chinese province of Hunan who have been unable to withdraw money from their accounts since April have received no explanation.<\/p>\n<\/section>\n<section data-v-f313b7e6=\"\">\n<figure class=\"kg-card kg-embed-card\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\">\n<p lang=\"en\" dir=\"ltr\">Peaceful protesters in China were beaten while demanding to get their life savings back from at least four banks in China&#8217;s central Henan province that froze millions of dollars worth of deposits since April. <a href=\"https:\/\/t.co\/lgsPmQQbBd\">pic.twitter.com\/lgsPmQQbBd<\/a><\/p>\n<p>\u2014 Fifty Shades of Whey (@davenewworld_2) <a href=\"https:\/\/twitter.com\/davenewworld_2\/status\/1546453191826481154?ref_src=twsrc%5Etfw\">July 11, 2022<\/a><\/p><\/blockquote>\n<\/figure>\n<\/section>\n<section data-v-f313b7e6=\"\">\n<p>Sunday&#8217;s protest quickly became violent, with many being beaten by law enforcement as they demanded the banks give them their money.<\/p>\n<\/section>\n<section data-v-f313b7e6=\"\">\n<p><a href=\"https:\/\/www.washingtonpost.com\/world\/2022\/07\/11\/china-bank-protests-henan\/\">According<\/a> to the<em> Washington Post<\/em>, the majority of those who pushed, hit, and otherwise assaulted protestors were not wearing police uniforms, rather they were plainclothed, a common tactic in China.<\/p>\n<\/section>\n<section data-v-f313b7e6=\"\">\n<p>&#8220;I never thought it could happen that officials could use this kind of violent beating against unarmed and defenseless regular people,&#8221; one protestor said.<\/p>\n<\/section>\n<section data-v-f313b7e6=\"\">\n<p>&#8220;If I hadn&#8217;t experienced it myself, I really wouldn&#8217;t believe it. When foreign media reported similar incidents in the past, I always thought it was slander,&#8221; he added.<\/p>\n<\/section>\n<section data-v-f313b7e6=\"\">\n<figure class=\"kg-card kg-embed-card\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\">\n<p lang=\"en\" dir=\"ltr\">This is huge. Don&#8217;t know how this will end. Henan bank is NOT the only one that is having problems with liquidity. All four Chinese banks are having the same issue. Some depositors found they can save and can NOT withdraw money with their bank cards. <a href=\"https:\/\/twitter.com\/hashtag\/bankrun?src=hash&#038;ref_src=twsrc%5Etfw\">#bankrun<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/China?src=hash&#038;ref_src=twsrc%5Etfw\">#China<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/CCP?src=hash&#038;ref_src=twsrc%5Etfw\">#CCP<\/a> <a href=\"https:\/\/t.co\/5WYYgpmIWP\">pic.twitter.com\/5WYYgpmIWP<\/a><\/p>\n<p>\u2014 Jennifer Zeng ?? (@jenniferatntd) <a href=\"https:\/\/twitter.com\/jenniferatntd\/status\/1546168180388806656?ref_src=twsrc%5Etfw\">July 10, 2022<\/a><\/p><\/blockquote>\n<\/figure>\n<\/section>\n<section data-v-f313b7e6=\"\">\n<p><a href=\"https:\/\/www.abc.net.au\/news\/2022-07-12\/china-detains-alleged-bank-fraud-gang-after-rare-mass-protests\/101228984\">According<\/a> to the ABC, those who attempted to spread the word about the protests in Hunan province were met with censorship. A hashtag used on the social media platform Weibo to bring attention to the violence perpetrated by police against protestors was disabled, and other communication was regulated.<\/p>\n<\/section>\n<section data-v-f313b7e6=\"\">\n<p>In a country that quashes dissent, protests are rare, however since April people have gathered on numerous occasions to voice their displeasure, not only with the four major banks in the region, but also with government officials.<\/p>\n<\/section>\n<section data-v-f313b7e6=\"\">\n<p>As Al Jazeera <a href=\"https:\/\/www.aljazeera.com\/amp\/economy\/2022\/7\/11\/chinese-police-arrest-suspects-in-bank-scandal-behind-protests\">reports<\/a>, many protestors argued that authorities were &#8220;colluding&#8221; with banks to suppress backlash by taking advantage of <a href=\"https:\/\/thepostmillennial.com\/chinas-zero-covid-policies-pushing-economy-to-near-breaking-point-report\/\">China&#8217;s strict Covid policies<\/a>, which, among other things, prohibit gathering in public places.<\/p>\n<\/section>\n<section data-v-f313b7e6=\"\">\n<p>On Sunday night, police in the nearby city of Xuchang announced that they had arrested members of an alleged &#8220;criminal gang.&#8221; Since 2011, the gang had allegedly been transferring money illegally via fake loans and subsequently using that money and &#8220;manipulation of executives&#8221; to control many local banks.<\/p>\n<\/section>\n<section data-v-f313b7e6=\"\">\n<p><a href=\"https:\/\/www.barrons.com\/news\/china-detains-alleged-bank-fraud-gang-after-rare-mass-protests-01657530308?tesla=y\">According<\/a> to Barron&#8217;s, a report by SionInsider found that the events in Hunan province are just the &#8220;tip of the iceberg of serious systemic and financial risks with small and medium-sized banks in <a href=\"https:\/\/thepostmillennial.com\/electric-car-batteries-tied-to-forced-labor-in-china-report\">China<\/a>.&#8221;<\/p>\n<\/section>\n<section data-v-f313b7e6=\"\">\n<p>&#8220;Other small and medium-sized banks could soon be found to be facing similar problems,&#8221; it continued, &#8220;particularly as financial contagion from Evergrande&#8217;s debt crisis spreads further and the Chinese economy markedly deteriorates.&#8221;<\/p>\n<\/section>\n<section data-v-f313b7e6=\"\">\n<p>Evergrande, a Chinese property developer, collapsed in 2021 sending shockwaves through the economy. <\/p>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>On Sunday, hundreds gathered in front of banks in the Chinese city of Zhengzhou after not being able to access their funds for months.The protesters were met with<\/p>\n","protected":false},"author":1,"featured_media":1549732,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1549632","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1549632","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1549632"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1549632\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1549732"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1549632"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1549632"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1549632"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}