It is pertinent to mention here that conflicts between Chinese police and depositors have been happening in the country’s Henan province for the past several weeks, with the latter claiming they have been unable to withdraw their savings from banks since April of this year, according to the local media reports.

The tanks were reportedly deployed on the streets to protect the banks and keep the protestors from attacking them. The incident follows a statement made by the Bank of China’s Henan office that deposits made by customers are “investment items” therefore, they cannot be withdrawn, India Times reports.

As per local media reports, authorities have said that they will begin releasing deposits of people whose funds have been blocked by a number of rural banks following protests in Henan’s capital, Zhengzhou. However, according to non-mainstream media in China, only a few depositors have received payouts, which raises the critical question of whether banks have any extra cash.

These reports further noted that the white-clothed men, who are reportedly members of the Chinese People’s Armed Police Force, dispersed protestors in front of the Zhengzhou division of the People’s Bank of China (PBoC) during the widespread protests in Henan province demanding the release of frozen funds.


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