Authorities Freeze Bank Accounts in Several Chinese Cities

Authorities Freeze Bank Accounts in Several Chinese Cities
People line up outside of a bank in Shanghai, China, on June 2, 2022. Hu Chengwei/Getty Images
Olivia Li
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News Analysis

Many banking customers in China’s Shenzhen city took to social media earlier this month, claiming they couldn’t withdraw cash or transfer money because their accounts were frozen. Chinese media reported that banks collaborated with authorities to freeze bank accounts.