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China to repay more victims of nation's biggest bank scam: Report

Clients from the four rural banks in the central province of Henan and one in Anhui with deposits of up to 100,000 yuan ($14,800) will be repaid from July 25

China, China economy, Economy
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Most of the victims were unaware of the illicit activities of Xincaifu and never received high interest or subsidies on their savings, the CBIRC told an affiliated newspaper.

Bloomberg
Chinese authorities will repay more victims of the nation’s biggest bank scam as it seeks to placate angry customers who have been denied access to tens of billions of yuan of deposits for months.

Clients from the four rural banks in the central province of Henan and one in Anhui with deposits of up to 100,000 yuan ($14,800) will be repaid from July 25, according to the local offices of the China Banking and Insurance Regulatory Commission. 

Authorities began to repay individuals with deposits of below 50,000 yuan last Friday, after hundreds of disgruntled bank customers took to the streets to ratchet