As per reports, tanks were rolled out to protect the banks and prevent locals from reaching them. This comes in the wake of an announcement by the Henan branch of the Bank of China that the savings of depositors in their branch are ‘investment products’ and cannot be withdrawn
New Delhi: In a grim reminder of the 1989 Tiananmen Square Massacre, armoured tanks were seen deployed on the streets of China amidst large-scale protests by people demanding the release of their savings frozen by banks.
The country’s Henan province has been for the past several weeks witnessing clashes between police and depositors with the latter saying they have been prevented from withdrawing their savings from banks since April this year.
Fresh videos have surfaced online in which Chinese Peoples Liberation Army (PLA’s) tanks can be seen deployed on the streets to scare protestors. Large-scale protests are being held in the province by bank depositors over the release of their frozen funds.
Tiananmen Square 2.0? China deploys tanks to prevent people from withdrawing money from crisis-hit banksTiananmen Square 2.0? China deploys tanks to prevent people from withdrawing money from crisis-hit banks