How did Chinese banks sink their people's money? | Good news from China to India.

 

How did Chinese banks sink their people's money?

China is so caught in the web of its epidemic that its economic condition is deteriorating. Especially the system of China's banking sector has gone awry. China, which is called the world's second-largest economy, is no longer able to bear the brunt of the corona epidemic. Since April, many problems have taken a serious form in China and these problems have to be faced by the general public.

Recently, a report was published in CNN Business News, according which about four small banks in China are on the verge of closure. Thousands of crores of rupees are at stake for more than 4 lakh customers of these banks and look at the compulsion of the customers of these banks. Since April, these customers are not able to withdraw their own money from the bank. This problem started, in April, when four banks in Hainan province decided to stop cash withdrawals with immediate effect. 

What happened was that the customers of the bank became penurious with the money. A customer from Eastern City, Venezuela, has been upset by this attitude of Chinese banks. He told to CNN Business, that he had deposited about $6 million in three small banks in central China's Henan province. Now even if you need it you can't get it out. The website is not working when you log in to the banking and when the website starts working then the message comes that maintenance work is going on. 

He says that the same situation is with all the customers of the bank, but the question arises why are Chinese banks doing this? On this issue, China's national banking regulator says that among the four banks which are facing problems since April, there is a common major shareholder. Shareholders are wrongly depositing money from the depositors by going against the rules. That is, he is the promoter to take deposits in the bank. 

It's a Henan New fortune group, this group is alleged to have collected money through third-party platforms. According to the Chinese banking system, the local bank gets the legal right to collect deposits only from the home customer base. It is not that this news is visible only to foreign media. His newspaper inside China, a Chinese magazine Sanlian Lifeweek is also keeping an eye on this news. In this regard, a report was issued in April, according to which about 4 lakh customers cannot withdraw money from their accounts. 

Not only 3 to 4 banks in China, but 3902 small banks also have a similar situation, but who is getting crushed in this struggle. The common people there, the common people of China whose hard-earned money is locked in these banks, are struggling for their own money. So far no official information has been received. How much money of the general public is blocked by these banks in China, and do people have to protest to get it? Have to struggle every day. Is there any scam going on in the banks? or else China is moving towards its plight. It's hard to say at the moment.

Good news for India from China:

Today we will talk about the news coming from China, due to which the market is getting excited and there is a reason for it to be exciting. For Happy Trading & Investing The news is coming from happy news from China. The Chinese government has decided that they will prepare to put a large amount of money into their market. The idea is underway in China, but it has created a flutter in markets worldwide.

The $220 billion bonds that were to be issued by the Chinese government, had to sell the $220 billion bonds in early 2023. But now the discussion is here, or there are reports that the Chinese government is going to sell this big bond in the second half of 2022, i.e. in the next few months. This means that a large amount of money will come into the market and the money that will come from it is being brought to the package to give relief to China's economy and give stimulus to China economy.

China is not able to achieve the growth target of 5.5%. You are aware that in the last almost two years, due to the heavy notes printed in America and Europe during the Corona period, there was a huge boom in the stock markets of India. Money is coming out of India because there is a sound of recession in America. Money is being drawn into America. Money is being drawn into Europe, those people are pulling money from the market, so money is also coming out of the emerging market. 

Now if money will be put into China. China will put money in the market. One of the reasons for the boom that has come in the Indian market yesterday, is the people of the market are telling that they are many announcements from China because it is a huge amount. And in this amount, he said that now America should do it or China should do it. You only benefit yourself. So what is the news about China, how will it be in terms of China's economy?

We will consider this separately, but it is this bond of about 1.5 trillion yuan, which is a bond of 1.5 trillion yuan of Chinese currency yuan and with this, the Chinese government wants to increase spending on infrastructure. That is, the way it is adopting to advance its economy is an old method that by increasing the expenditure on infrastructure, it speeds up the entire economy of the country. development, but when the amount will come in the market as the expenditure increases.

If things will go to all kinds of markets, then the market of India also hopes that this money will come here and many of our businesses which are commodities are getting their market because this money will come here, then the market of India will get This good news seems to be coming from China and that is why you will see a new relief in the market, which till now was the news of concern from America that FPIs are withdrawing money.

Because of this, we have to be worried, so in a way, China is filling that gap. Right now news is coming out from these sources that such an idea is going on, but there is no smoke without fire, then if it is being thought of here and especially in a country like China, if something goes out from the hand of the government, it means that The matter has gone a long way and this work is going to be done.

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