Chinesische Beamte mahnen zur Ruhe, nachdem Evergrande-Befürchtungen Berichten zufolge einen Ansturm auf kleine Banken ausgelöst haben

by Silly-avocatoe

28 comments

  1. Text. This is not opinion or editorial.

    Hong Kong
    CNN
    —
    Fears that Evergrande’s debt woes are spreading into the wider financial industry have sparked a run on a regional bank in northern China, multiple state media outlets have reported.

    Depositors lined up at the bank in Cangzhou, in Hebei province, to withdraw their money, according to photos and videos circulated online this week, prompting an appeal for calm by officials.

    Police in Cangzhou have arrested “many people” suspected of spreading rumors that the bank was suffering a cash crunch because of its exposure to Evergrande, Yicai, a state-owned media outlet, reported on Wednesday, citing an officer deployed at the bank.

    Posts on Chinese social media reviewed by CNN claimed that the Bank of Cangzhou had lent billions of yuan in loans to Evergrande, the indebted property giant that defaulted on its debt in 2021 and is struggling to survive.

    Last month, Evergrande said its founder and chairman Xu Jiayin had been detained on suspicion of crimes, sparking fears that the company’s multi billion-dollar restructuring plan might be in peril, which could lead to a forced liquidation of the firm and huge losses for its creditors.

    The bank has a statement from the city government posted at its entrance, assuring the public that their deposits are safe, Yicai said.

    “[We urge] financial consumers to make rational judgments and to avoid losing interest on your deposits due to rumors,” according to a photo of the statement posted by the media outlet.

    The statement appeared to be signed and stamped by the Cangzhou government on Monday. The bank’s operations are “sound” and its depositors are protected by the national deposit insurance scheme, it said.

    It was unclear how many depositors took part in the bank run or how much they withdrew.

  2. Lol. Imagine wanting to live in a country that arrests you for posting on social media that a bank is running out of money and you might want to withdrawal your from it while it still exists.

    Authoritarian hellhole.

  4. Interesting, the usual Chinese trolls haven’t responded to this article. I suppose they’re stuck in line at the ATM.

  5. Im 100% sure that the underlying massively humongous disaster is going to stop now. Phew.

  7. „When the government says Don’t Panic!, then it’s time to panic.”
    – Jesus, probably

  8. Wasn’t there significant fears of Evergrande going bankrupt in 2021? The news about it just dried up eventually. What resolved the issue/was it resolved back then?

  9. I’ll have the #9 combo platter, which includes an Evergrande and a Country Garden with a side of real estate bubble sauce.

  12. Urge calm?

    Like what? “Guys guys, calm down, let the party officials take out their money first, there will be plenty left for you filthy Pea…. I mean honorable citizens”

  13. Once again real estate gets out of control and wrecks an economy.

  14. China hates it when people try to take their own money. Look at how shackled their elite class is. Are you actually rich if you can’t spend money wherever you want?
    Someday the Chinese population will realize they have the power and it will be the French Revolution x 1,000

  16. Imagine thinking the money you deposit in the bank is just stacked nicely in the vault in the back…

  17. I could have sworn evergrand collapsed last year or two years ago?

  19. The BRICS are starting to fall. Better tighten the silk belt.

  22. The fact that anyone has any money still in evergrand at the moment is baffling to me

  23. This has the potential to fuck up things royally,
    It’s too late to profit from it. The risk of contagion is real.

    The CCP has stayed in power due to a deal. Rising prosperity in exchange for political obedience.

    Much of Chinese wealth is held up in property. Little Xitler might star a war as a distraction from this and stoke up even more nationalism.

  24. Apple execs sweating as things go tits up where they produce their stuff.

  25. This has been a thing for a while. About a year or so. Lots of protests. “Where’s our money!” Etc. but it might have been at smaller banks

  26. Evergrande has been failing for two years. Wait until you guys hear about Country Gardens

  27. There is a bigger bomb than ever grande, also a real estate company. So far, The Chinese government has already injected 20x the cash into their economy vs. the 2008 crash, and their economy hasn’t responded at all.

  28. the CCP certainly has clamped down on any reporting of evergrande coming out of the country, we havnt heard much over the months of the severity.

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