Chinese Depositors Protest At Bank Of Nanjing, Suppressed By Police

On September 2, it is reported that a large number of depositors gathered at the entrance of the Bank of Nanjing Hangzhou Branch Binjiang Technology Sub-branch that morning, protesting the bank’s closure to prevent people from withdrawing their money and demanding the bank’s immediate repayment. Subsequently, the local government then sent hundreds of public security officers as well as special police to the scene to maintain stability. The police arrested dozens of depositors who defended their rights. Cries can be heard at the scene.

 It is known that these depositors who are defending their rights are the depositors of Henan’s Rural Commercial Bank. After the bank defaulted, a number of depositors found that the Bank of Nanjing is the clearing bank of Henan’s Rural Commercial Bank, which is, the agent bank. As a result, the depositors had to go to the Bank of Nanjing to withdraw their money. 

 Previously, Miles Guo, the founder of the New Federal State of China (NFSC), had said that Bank of Nanjing was the agent bank for all Henan’s commercial banks in Zhengzhou. He said that many of the notes of Henan’s Rural Commercial banks were issued by Bank of Nanjing and Henan’s commercial banks would become the most exaggerated financial landmines in China. After the mine bursts in Nanjing Bank, then it will be the turn of Bank of Shanghai and China Industrial Bank.

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Translator: NFSC News
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