People collectively protested at the Minsheng Bank, Shenzhen, to protect their interests, again attracting Chinese citizens’ attention on Thursday, Aug. 11.
Earlier, authorities suppressed a wave of protests by depositors in local banks in Henan Province. The Politburo meeting of the CCP Central Committee also emphasized “maintaining the general stability of the financial market.” But, unexpectedly, as soon as the directive came out, on Aug. 11, people came to Minsheng Bank in Shenzhen to protect their interests.
According to public information, Minsheng Bank in Beijing is China’s first and largest private bank, established on Jan. 12, 1996.
According to a video posted on the Internet on Aug. 11, more than 100 people surrounded a branch of Minsheng Bank in Futian District, Shenzhen City, Guangdong Province. They held up blue-background banners with white letters that read: “Law enforcement police, please cooperate” and chanted: “Minsheng Bank returns the money!”
It is currently not clear what the specific reasons were for people gathering to protect their interests, but when searching for related phrases on Baidu, such as “Minsheng Bank incident in Shenzhen,” “people called on Minsheng Bank to refund the money,” there is no information about this event. However, netizens and network administrators are involved in a tug-of-war: one side constantly uploads images and videos, and the other repeatedly deletes them, according to Aboluowang.
The soundness of the financial market has come under the spotlight of the CCP’s highest echelons. On July 28, the Politburo of the Central Committee of the Communist Party of China held a meeting. It emphasized that “it is necessary to maintain the general stability of the financial market, reasonably resolve the financial risks of some local banks, and severely punish financial crimes.”