Banks in difficulty harmed savers. This Sunday, central China’s authorities were accused of collusion and corruption. It was an unusual act of resistance against the power.
Four banks in Henan province, feeling the effects of the slowdown in economic growth, have stopped all money withdrawals from mid-April. This has trapped thousands of small savers. This situation has led to occasional demonstrations.
Local authorities were accused of making red health cards for a number protesters last month to prevent further gatherings. This made it virtually impossible to travel.
According to several participants, who asked anonymity, there were several hundred protestors in Zhengzhou on Sunday in front of the Central Bank of China branch.
Photos shared on social media showed banners decrying “the corruption of the authorities in Henan”.
Plainclothes agents arrest demonstrators for videos that cannot be independently verified. Some demonstrators have swelling on their faces.
Protesters were “beaten up, injured, and bleeding from their heads.” One participant said that disabled people were “violently beaten” and estimated the number at “several thousand”.
The local authorities didn’t respond immediately.
China is a country that values social stability and suppresses protest, so demonstrations are rare.
Some Chinese, out of desperateness, take to the streets in spite of the possibility of arrest and prosecution.
Authorities in Henan were under fire last month after they allegedly mishandled health cards to stop further protests.
China requires a health card to be able to enter large buildings, shopping centers, public places, and certain transportation.
Most Chinese are willing to play the game of tracing their health for medical purposes. However, voices can be moved by the potential drift of this tool to surveillance purposes.
Analysts say that other Chinese institutions are in a similar financial predicament to the banks in Henan. This is exacerbated by corruption.
