China’s Henan province to make next repayment round to rural bank clients

China's Henan province to make next repayment round to rural bank clients

BEIJING : Financial authorities in China’s Henan province said on Friday they will begin from Aug. 8 a fourth round of repayments to clients of four rural banks whose funds were frozen in what authorities said was a complex scam.

Individuals with deposits of 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.

($1 = 6.7468 Chinese yuan renminbi)

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