Banking Failures in Henan Persist

Violent clashes with plain clothes officers on Sunday. People in the videos claims these are actually criminals from triad gangs.

This is a continuation of the story from a month earlier, when everyone across China from parts of Henan were given red codes on their covid passports, sending them all into lockdown, after runs on local banks.

Oriental Daily: 3000存户到郑州银行维权　爆发警民流血冲突

The conflict of depositors’ rights protection broke out in Henan, China. On Sunday, nearly 3,000 bank depositors from all over the country protested outside the Zhengzhou sub-branch of the People’s Bank of China, but were surrounded by a group of police and unknown persons, causing bloody clashes between the two sides.

Many people held slogans demanding the bank to return their deposits, and even wrote "oppose the capriciousness of power, oppose the violent beating of depositors by the Henan provincial government in conjunction with the underworld", "resist the violent treatment of depositors by the Henan police, oppose oppression, and demand the rule of law for human rights.

The depositors (depositors) of Henan Rural Banks were unable to withdraw cash in April. In June, they wanted to go to Henan to retrieve their deposits, but were unable to travel due to the "red code from the sky". The incident has attracted great attention, and the amount involved may be as high as nearly 40 billion yuan (about 26.434 billion ringgit).

That is almost $6 billion in U.S. dollars.