China Business & Economy

The State of Banks in China

The State of Banks in China
People hold banners and chant slogans to stage a protest at the entrance to a branch of China's central bank in Zhengzhou, in central China's Henan Province, on July 10, 2022. A large crowd of angry Chinese bank depositors faced off with police on July 10, some reportedly injured as they were roughly taken away. This case has drawn attention because of earlier attempts to use a COVID-19 tracking app to prevent them from mobilizing. Yang/AP Photo
Christopher Balding
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News Analysis

The state of banks in China dominates concerns about the economy and global growth. With pictures of angry crowds outside banks and tanks on the street in one city to quell discontent about being unable to withdraw funds, it bears asking what the true state of Chinese banks is.

Christopher Balding
Christopher Balding
Author
Christopher Balding was a professor at the Fulbright University Vietnam and the HSBC Business School of Peking University Graduate School. He specializes in the Chinese economy, financial markets, and technology. A senior fellow at the Henry Jackson Society, he lived in China and Vietnam for more than a decade before relocating to the United States.
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