Shengsho (China): Bank of China branches have imposed strict restrictions on people withdrawing money from their savings. The public is not allowed to withdraw money from a bank branch in the Henan region of China. Due to this, people wait in long queues to withdraw money from ATMs.
In this case, the Chinese army has piled cannons on the streets to intimidate people waiting to withdraw money from bank ATMs. It seems that the Chinese government has taken this step to protect the bank from investors. Due to this, people are suffering from not being able to withdraw money from banks.
Tiananmen Cannon: People say the cannons patrolling the streets are a reminder of the 1989 Tiananmen Square cannon attack.
On June 4, 1989, a large number of students gathered in Tiananmen Square to protest against the Chinese rulers and demand democracy. Unable to control the students, the police called in the army. The army also sensed that the situation was getting out of hand and fired artillery to control the students. Thousands of students died in this. This incident was the biggest black mark in Chinese history.
The Chinese government’s use of cannons to protect troubled banks is a reminder of those incidents.
The bank management said that following the fierce struggle of the customers, they have started returning the deposits in a phased manner.