Depositors at many big banks in Shanghai are complaining about not being able to process their banking account. Banks in Shanghai all limits the number of transactions to only 300 accounts per day, causing long lines of people lining up, hoping to get their chance of getting the transaction.
In a video posted on Youtube, outside a branch of China CITIC Bank, a man can be heard saying, “Can’t deposit money in the machines, they say money has virus! I don’t think money has viruses, it’s people’s hearts that has virus. Alas! China CITIC Bank.”
In another clip, many people are standing outside the bank waiting in line to enter.
Another woman said, “Bank of Shanghai sends out 300 stamps in the morning, after they issued theme there were nothing left. So many people have to come early to pick them up at 8 in the morning. Many people who come now can’t get stamps anymore, so they can’t enter”.
The same story happened in front of China Construction Bank. Many people waited in a long queue.
A man said, “Arriving in front of the bank and queue, waiting for up to 1 hour, a bank only allows 6 people to enter each time, too funny! I don’t know what the rules are anymore, these are all man-made!”
Outside an Industrial and Commercial Bank of China, a large number of citizens also gathered.
A guy in white said the stamps has all been taken for today, the business has closed. He blocked the flow of customers.
There are also a large number of citizens waiting outside the Bank of Shanghai.
A man said: “More people are queuing in front of the bank than those queuing for nucleic acid test.”
Outside a China Construction Bank branch there was a crowd of people and the scene was noisy.
A man said: “There is no longer a queue for nucleic acids test, but those who withdraw money now have to queue, queuing everywhere.”
Another man said: “Depositors queue up to withdraw money, and in the future, the economy may still be tough for ordinary people.”
Another scene showed a young woman crying to a pair of polices on a road full of vehicles,
“Nurses during the epidemic has not received salaries. But no one takes charge of this”.
“In the summer, I still wear this thick clothes when I came here.”
Some netizens respond to this with a pun,
“In the world’s second-largest economy, arrears of wages are legal behaviors, and malicious demand for wages is a crime”.
“Torturing a group of normal people to the point of madness.”
“Malicious demands for wages and arrears of wages are really common occurrences”
“Banks are full of money and can’t accept customers, China’s economy is really good”.
“No common prosperity… Banks are all closed. There must be a common infection… The queue to do nucleic acid. Socialism is good!”,
Besides banks, hospitals are other places full of people queueing for a check-up.
A man said, “As soon as you go to the hospital for a check-up, you will be scared to death when you see the queue!”.
The market was bustling with people. And another man said, “I never imagined that there would be such a queue at the gate of the building to see a doctor!”
Another scene shows nucleic acid workers left work early, leaving a long queue of residents. And some citizens are arguing with nucleic acid testers.
Recently, a cash crisis also happened at 4 banks in Henan province. Depositors set up protests as their bank account has been frozen since April without reason. Calls to banks were directed to voicemail. They are worried their deposit – which according to depositors amount to billions of dollars – might be lost.
A protestor by the name of Li said local police had come and pushed them around with brute force. The police also blocked them from entering the city.
They also told protesters to remove videos and pictures from their phones
Rural banks are often the key financiers for farmers and small businesses in less-developed regions in China. During economic downturns, they are seen as being more vulnerable.
Last month, China’s Politburo stressed the need to effectively control key risks and ensure no systemic risks exist.
An unnamed official from China Banking and Insurance Regulatory Commission – the agency who supervised banking institutions – told financial magazine Caixin last week that the country’s small and medium-sized rural banks in some regions of China have relatively large “accumulated risks” and it was necessary to step up risk control.