Henan: China to repay customers after mass bank protests

The announcement came just a day after a rare protest in Henan's capital, Zhengzhou, turned violent.

Payments will be made in batches from this Friday, local regulators say.

The four banks that were the focus of the protests are believed to have frozen a total of 39bn yuan ($5.8bn; £4.9bn) of deposits.
the Henan Banking and Insurance Regulatory Bureau and the Henan Provincial Local Financial Supervision Bureau outlined the plans to make payments to customers through a local association supervised by China's central bank.

"Advance payment will be released to customers with a combined amount of less than 50,000 yuan savings in one institution," it said.

"If the combined amount of a single institution is more than 50,000 yuan, the advance payment will be made successively, and the advance payment arrangement will be announced separately."