China's banking crisis deepens with collapse of Jiangxi Bank
The Chinese banking sector is facing a serious crisis. In just one week, 40 banks disappeared, and the collapse of Jiangxi Bank of China further deepened the sector's problems. Experts warn that the situation could have severe consequences for the global economy.
Reports from China indicate the collapse of one of the banks. The portal renminbao.com published a report from outside the headquarters of the Jiangxi Bank, which concerned clients stormed over bankruptcy rumours. The bank had previously officially informed that its profits could drop by 30% due to customers' loan repayment issues.
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