Chinese provincial authorities promise payments after bank protests

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BEIJING, July 11 — Authorities in China's Henan province said today they will start paying back first on behalf of several rural banks funds of some clients that had been...

BEIJING, July 11 — Authorities in China's Henan province said today they will start paying back first on behalf of several rural banks funds of some clients that had been frozen, in a bid to ease anxiety among depositors that led to rare protests over the weekend.

Yesterday, about 1,000 people gathered outside the provincial branch of the Chinese central bank in Henan's capital of Zhengzhou to demand action. Police say they have arrested some suspects and frozen funds in connection with the disappearance of the deposits, according to an official notice posted late on Sunday.

 

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