China's Henan province to start new round of repayments to rural bank clients
FILE PHOTO: Surveillance cameras are seen outside the China Banking and Insurance Regulatory Commission (CBIRC) building in Beijing, China December 13, 2018. Picture taken December 13, 2018. REUTERS/Stringer
HONG KONG : Financial regulators in China's Henan province said on Friday they would launch another round of repayments from August 22 to clients of four rural banks whose deposits have been frozen in what authorities said was a complex scam.
Individuals with deposits of between 350,000 yuan and 400,000 yuan ($51,344-$58,679) will be repaid, the Henan branch of the China Banking and Insurance Regulatory Commission and the provincial financial bureau said in a joint statement.
($1 = 6.8167 Chinese yuan renminbi)
Source: Reuters
