THANKS FAKE NEWS

Over the past week, a Banking catastrophe has unfolded inside China, with FORTY (40) Banks Failing and having to be absorbed by other banks. Yesterday, Jiangxi Bank - a GIANT - went under causing Depositors to storm the bank demanding their money.

China's banking sector is facing a full-scale crisis. In just one week, 40 banks disappeared, absorbed into larger institutions.

Yesterday, Jiangxi Bank of China went under, further escalating the crisis.

China's smaller banks are struggling with bad loans and exposure to the ongoing property crisis.

Scope of the Problem

Some 3,800 such troubled institutions exist. They have 55 trillion yuan ($7.5 trillion) in assets—13% of the total banking system—and have long been mismanaged, accruing vast amounts of bad loans. Many have lent to real estate developers and local governments, gaining exposure to China’s property crisis. In recent years, some have revealed that 40% of their books are made up of non-performing loans.

https://halturnerradioshow.com/index.php/news-selections/world-news/chinas-jiangxi-bank-fails-depositors-storm-the-bank-hq-demanding-their-money