Police in the rural Chinese city of Yancheng have detained the person suspected of spreading a rumor that sparked a three-day bank run in the eastern Chinese town, security officials said on the city's official microblog on Thursday.
Yancheng city police detained a person surnamed Cai on Wednesday night after a rumor was started earlier this week that some banks in the area were insolvent. Depositors rushed to branches of two banks to withdraw all their savings after hearing the rumor.
The Huanghai and Jiangsu Sheyang banks, the Yancheng government and the central bank reassured depositors that their savings were safe, packing cash to the ceiling in bank branches to show depositors the banks had enough cash to fulfill all necessary withdrawals.
Local officials and bank managers kept branches open 24 hours a day and trucked in cash by armored car to satisfy hundreds of customers, some of whom brought large baskets to carry their cash out of the bank.
Chinese regulators have been moving to crack down on people spreading rumors, which they say are damaging Chinese society. Officials in Yancheng have said those responsible for spreading the rumors will be severely punished. The panic in a corner of the coastal Jiangsu province north of Shanghai, while isolated, struck a raw nerve and won national airplay, possibly reflecting public anxiety over China's financial system after the country's first domestic bond default this month shattered assumptions the government would always step in to prevent institutions from collapsing.
Rumors also find especially fertile ground here after the failure last January of some less-regulated rural credit co-operatives.
"One person passed on the news to 10 people, 10 people passed it to 100, and that turned into something pretty terrifying," said Miao Dongmei, a customer of the Sheyang bank who owns an infant supply store across the street from the first branch to be hit by the run.
4 comments:
And we can have a federal people's EU - where no country in the EU is ruled by political parties - and the people can veto any plans by any party in any country which is against the national or EU interest
Now that is what you call collective independence...where Scotland starts it... and we all get back together ... free of Westminster... free of the House of Lords...free of the City Of London control... and we all share the pound together.. with the Bank Of England under the control of all 4 people's 2nd chambers too
It is a moot point anyway because the Scottish Nation has an agenda of it's own - which includes setting up a federal UK - without political party control
Scottish nation plan to go independent
Then we plan to set up a 2nd chamber which controls the government - i.e. by referendum (as the Swiss do)
That way no party or coalition can introduce any law we don't want - based on the 2nd chamber hiring a host of the best lawyers to advise the nation
Then we will invite England, N Ireland and Wales to do the same - and that way each country is ruled by the people for the people - with all political parties only attempting to rule - but over-ruled by the people when they so choose
And once we have formed a federal UK - then we will invite other EU nations to do the same
And we can have a federal people's EU - where no country in the EU is ruled by political parties - and the people can veto any plans by any party in any country which is against the national or EU interest
Now that is what you call collective independence...where Scotland starts it... and we all get back together ... free of Westminster... free of the House of Lords...free of the City Of London control... and we all share the pound together.. with the Bank Of England under the control of all 4 people's 2nd chambers too
With the reforms in Greece my hourly pay is been reduced to 2 Euro per hour...I work here in Athens for 2 Euro per hour before Tax...To earn a living now I have to work more then 12 hours per day everyday with no weekends and no holidays...Yesterday 30/03/2014, I worked 12 hour shift for 25 Euro before Tax...These are the reforms our Greek government voted for while our corrupt politicians are enjoying a monthly salary of 10,000.00 Euro per month non-taxable + benefits which amount to more then 20,000.00 Euro per month for each member of parliament...This is the reality which we face in Greece now because some bunch of corrupt public servants with help from our corrupt politicians looted the country wealth and we the poor are paying for all this...Unions must be dissolved as they are another cause of the downfall of the economy...
Russia's Prime Minister Dmitry Medvedev has arrived in Crimea - the most senior Russian official to visit since it was annexed from Ukraine.
Mr Medvedev announced that the region would become a special economic zone, with incentives for businesses.
The Russian government says it is creating a new ministry to deal with Crimea and Sevastopol.
Moscow's annexation of Crimea earlier this month has sparked international condemnation.
Mr Medvedev, leading a delegation of government ministers to the peninsula's main city Simferopol, said that no-one in Crimea should lose anything in the accession to Russia, according to the Russian government's Twitter feed.
Pensions and public sector salaries would be increased, it added.
The government also announced health insurance for Crimea residents and the introduction of Russian educational standards in schools.
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