BEIJING (Reuters) – Financial authorities in China’s central province of Henan said on Monday that they will begin from Aug. 30 to make another 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 400,000 yuan to 500,000 yuan ($57,819-$72,273) will be repaid, the Henan branch of the China Banking and Insurance Regulatory Commission and the provincial financial bureau said in a joint statement.
Authorities in Anhui province’s Bengbu city issued a similar statement, saying they would also start repaying clients of a bank there from the same date.
($1 = 6.9182 Chinese yuan renminbi)
(Reporting by Beijing newsroom; Editing by David Clarke)
