News Snapshot:
Chinese regulators on Friday offered repayments to more rural bank customers whose withdrawals were frozen, in the ongoing saga of one of the country’s biggest banking scandals that sparked rare mass protests. China’s rural banking sector has been hit hard by Beijing’s efforts to stem a housing bubble and rising debt, in a financial crackdown that has had far-reaching implications for the world’s second-largest economy. Four banks in Henan province froze cash withdrawals in mid-April as regulators cracked down on mismanagement, locked out hundreds of thousands of customers from their funds and sparked sporadic protests. The provincial banking regulator said...
