In China, due to financial instability The population’s bank deposits are being confiscated en masse.
Thousands of customers are queuing to withdraw their funds amid fears that Cangzhou Bank is on the verge of bankruptcy. A local bank actually lent hundreds of millions of dollars to a bankrupt major to the developer Evergrande. The country’s largest developer, Country Garden, also reported problems with debt payments. Cangzhou Bank filed a lawsuit last year, saying the overall risk was manageable and would not have a material impact on the quality of its operations, management or assets, and Zakanno has now repaid the debt.
Chinese authorities called for calm, and police in the city of Cangzhou arrested several people suspected of spreading the hoax. The government intends to replenish the capital of commercial banks and rural financial institutions and help them get rid of non-performing assets and problem loans. Some local governments have issued targeted bonds to help small banks raise capital.
Author: Igor Pressman
Igor Pressman is a self-taught blogger. His materials are always pleasing with value judgments, and sometimes depressing with a small number of facts. However, things should get better with age. Igor Pressman was born in the Urals and lived all his youth here. However, Pressman writes materials on a federal scale much more often than articles on a local level. I. Pressman was born in 2000, at the turn of the millennium, and will certainly leave his mark on the new millennium. Links to his other materials can be found on this page.