China’s Banks Are Broke, Mass Public Revolts, Armed Guards Block Withdrawals

On April 23, the state broadcaster in Xining, Qinghai Province, reported that on April 19, the “People’s Armed Division” of the Industrial and Commercial Bank of China’s Qinghai branch was inaugurated in Xining with local military and municipal leaders in attendance.
Officials state that this “People’s Armed Division” is the first grassroots armed division in national financial institutions, aligning with Xi Jinping’s “strong military” ideology.
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