China’s Henan Province to Make Next Repayment Round to Rural Bank Customers

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BEIJING: Financial authorities in China’s Henan province said on Friday they will begin a fourth round of refunds to customers of four rural banks whose assets were frozen in what authorities say was a complex scam.

Individuals with deposits between 150,000 yuan ($22,232.76) and 250,000 yuan will be repaid, the Henan branch of the China Banking and Insurance Regulatory Commission and the provincial financial bureau said in a joint statement.

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($1 = 6.7468 Chinese Yuan Renminbi)

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