The Chinese government is deploying tanks to protect banks from protesters outraged by the blockade of bank deposits. According to videos and reports posted on Twitter, the measure was adopted in Henan province, where protests by account holders in the city of Zhengzhou were violently repressed last week. )
These demonstrations were the biggest protests in China since the beginning of the Covid pandemic-. Account holders claim that their savings have been blocked for months and they are being transferred to “investment products”, as informed by the Chinese authorities.
Last week, provincial financial regulators in Henan and neighboring Anhui province reported that account holders would begin to be reimbursed. The blockade increases uncertainty about the real situation of the Chinese economy, affected by the strict lockdowns of the government’s Covid-zero policy.