News Snapshot:
Four banks in China's Henan province froze cash withdrawals in mid-April as regulators scrutinised alleged mismanagement, leaving billions of yuan in savings frozen and sparking sporadic demonstrations - Copyright AFP Daniel Bockwoldt Chinese regulators on Friday offered repayments to more customers of rural banks whose withdrawals were frozen, in the ongoing saga of one of the country’s biggest-ever banking scandals that triggered rare mass protests. China’s rural banking sector has been hit hard by Beijing’s efforts to rein in a property bubble and spiralling debt, in a financial crackdown that has had ripple effects across the world’s second-largest economy. Four...
