As reported, on July 10, a mass event occurred in Zhengzhou, Henan province, where thousands of depositors hung banners and protested in front of the People’s Bank of China. In addition to the extreme scale of this demonstration, it also had some notable points. The French news agency commented that in a country where stability prevails and governments try to quell any protests, demonstrations are extremely rare.
RFI reported that some desperate Chinese took to the streets to protest because their pockets were empty despite the risk of being arrested. In folklore, there is a saying, “Money is life.” When their means of survival are compromised, they will take risks.
The report also said that the savings in the bank could not be withdrawn. This is also astonishing and can only be seen in a country whose economy is about to collapse, as in Henan province.
According to Le Figaro, protests in China are relatively rare in a country where maintaining social stability is an obsession and where power, in general, can stifle any demonstration at the start. However, in desperation, some Chinese do not hesitate to take to the streets, despite the risk of being arrested and prosecuted.
Some netizens on the social platform Pincong pointed out that from an economic point of view, this is a big deal because “it should be known that the bank in Henan is not a private bank, it’s the local government’s bank. If this bank could go bankrupt, it’s clear that the bad debt is so bad that the central bank doesn’t want to cover the deficit. The central bank doesn’t want to bail out local banks have sufficiently demonstrated that in the event of a break from soft ties with the West, the country’s highly leveraged infrastructure economy dominated by foreign trade can no longer be sustained.”
Another distinctive point of the incident was that depositors chanted “Li Keqiang, investigate Henan” at the scene, but did not mention Xi Jinping’s name or ask Xi for help, according to RFI. Sound of Hope notes that, ahead of the 20th National Congress of the Communist Party of China, depositors need to pay attention to whether the CCP’s internal infighting is exploiting the movement of the masses or not, even affecting the position of the CCP.
News commentator Zhang Tianliang mentioned in the latest live broadcast that the CCP’s use of unidentified people to suppress citizens this time is also extraordinary.
A depositor in Shandong who did not go to Zhengzhou to participate in the protection of rights for work reasons told Sound of Hope: “We have some friends; they also protested. They sent a lot, a lot of text messages and a lot of videos, showing it was very brutal and scary. It is said that they (the government) hired security guards to do it for $300 per day, and the police opened fire. When they returned, they brought back such news, how they were taken away, how they were released, air tickets were purchased under police supervision, and then police took them to the airport and told them to go home.”
Professor Zhang Tianliang said that in the past, the CCP has directly used armed forces or police to suppress. Still, this time the same situation happened in Zhengzhou and Hong Kong, where an unidentified group of people in white shirts beat up protesters. In contrast, police stood by as if nothing had happened.
Professor Zhang believes that from the iron chain girl case in Xuzhou to the beating in Tangshan to the Henan Bank protest, how the government handled these cases shows that, no matter how many people pay attention, no matter how many people are angry, no matter how small the perpetrator is, the Chinese government does not want to solve it. “The simplest logic here is that the CCP believes that if even one of your modest demands is satisfied, people will be encouraged to fight for more rights, so even if this conflict can be resolved, the CCP will not go to solve it. It hopes that the Chinese people fall into despair and helplessness, gradually becoming numb and not wanting to resist anymore, which means the world is at peace.”
Mr. Zhang said that in the past, there was a saying called the people’s internal contradictions, which means conflicts that can be resolved with RMB are not contradictions. But now, the CCP’s attitude has been that the contradictions that could have been fixed by RMB in the past will no longer be resolved in RMB now. In addition to the suppression that leaves no way of life for the Chinese people, from now on, there will be no more conflicts among the people, and all conflicts are conflicts between the enemy and our troops, all one-on-one battles.
Mr. Zhang Tianliang pointed out that since the CCP feels it is a one-on-one relationship with the Chinese, why should they try to find a way to coexist with the CCP?
One person commented on the protection of the rights in Zhengzhou: “A great power nation has become a dynamite. I can’t help but think of the Railway Protection Movement of the late Qing Dynasty.” This movement is considered the last straw that burned down the Qing Dynasty. Where will the depositors of Henan go? Every social class is watching.