Thousands of desperate depositors in China have been fighting for almost two months to recover their savings after a bank run that has raised concerns over the financial health of the country’s smaller lenders.
Authorities blamed fraudulent management practices for the crisis, which was sparked by the sudden suspension of cash withdrawals at four lenders in Henan, one of China’s most populous provinces, on April 18.
But analysts said an economic slowdown sparked by President Xi Jinping’s zero-Covid policy is also worsening the problems at China’s smaller banks.
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