The China Banking and Insurance Regulatory Commission has urged Chinese banks to increase loan support for real estate developers so they can complete unfinished projects
Customers at four rural banks in Henan province and one in neighbouring Anhui have been cut off from their savings since April, leading to protests and promises from authorities that some of the money will be repaid.
The bank protests have come amid a broader slowdown in the Chinese economy, which is estimated to have grown by an anemic one percent during the second quarter of 2022.
Angry bank customers who traveled to a city in central China to retrieve their savings from troubled rural banks have been stopped by a health app on their cellphone.