A massive scandal worth tens of billions of yuan is rocking the critical rural banking sector in China. Authorities blame a "criminal gang" for illegally siphoning off depositors’ money and preventing more than a hundred thousand Chinese from accessing their accounts for months.
Authorities in China’s central Henan province, located around 680 kilometres south of Beijing, finally issued a promise this week. Days after security officials violently broke up a protest of angry bank customers, Henan authorities said they would begin reimbursing account holders at the heart of one of China’s largest financial scandals in recent years.
