A huge banking crisis has emerged in China, the situation has turned to this level that the government has imposed a ban on transactions. People are protesting all over the country against this. In some places, the protest has taken a violent turn. In return, the government has deployed tanks outside the banks. A video from the Henan province has gone viral on social media. The visuals is showing several tanks in a line. The administration has ordered to deploy the tanks from not letting people enter the bank.
What is the complete matter?
In April, an article was published in the South China Morning Post, highlighting the corruption in the Chinese banks. It was claimed that around 40 billion Yuan, which is around 6 billion dollars have gone missing from the Chinese banking system. After this, the Banks in Henan and Anhui provinces stopped access to people’s accounts. The customers were told that it is due to a ‘system upgrade.’
In the complete incident, New Oriental Country Bank of Chifeng, Zhecheng Huanghuai Community Bank, Shangcai Huimin County Bank, and Yu Zhou Xin Min Sheng Village Bank, these four banks are adversely affected. People are taking rounds of the banks for three months, but they are not even allowed to enter the bank.
The images of tanks on the roads remind people of the Tiananmen Square protests and massacre. In 1989 the military killed around 3000 people protesting against the government. They were brutally crushed by the tanks.