
China: can authorities contain unrest after Henan protests?
China’s banking regulator announced that it has opened an investigation into officials at its bureau in Henan province, which this month saw protests by depositors unable to withdraw funds. The China Banking & Insurance Regulatory Commission said a local inspector is suspected of “serious disciplinary violations” concerning fraud and embezzlement at five rural lenders. Several members of a “criminal gang” accused of taking control of the banks have been arrested. The situation turned violent after some 1,000 depositors protested in Zhengzhou, demanding access to their savings in frozen accounts. The protesters were assaulted by a group of unidentified men in matching white outfits, as police held back and did not intervene. Video of the incident went viral on social media. In addition to the banking imbroglio, China’s central government faces a growing mortgage payment boycott across the country—and it is all happening in a politically sensitive year. President Xi Jinping is widely expected to secure a third leadership term at the upcoming 20th National Congress of the Communist Party of China. (Photo via Twitter)