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July 1, 2022
Finance Technologies

Chinese lenders suffer two bank runs in a week

Chinese local lenders, Baoding Bank and Yangquan Commercial Bank, suffered bank runs last week. Governments and police intervened after rumours circulated around the firms, South China Morning Post reports. Governments and police intervened after rumours circulated around the firmsDuring the coronavirus crisis, China has relied on these local lenders to provide funds to small factories and farmers. But the firms have struggled. Their non-performing loan ratios have risen and they have gone months with scarce access to capital. Two bank runs in a week On 20 June, local authorities in Baoding assured the public that they “should not believe in…
Chinese lenders suffer two bank runs in a week

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