Frozen bank accounts and unfinished homes: China’s ‘desperate situation’
Wu Jian’s collapse of confidence in China’s local banks started with a click on his cellphone.
It was mid-June, and Mr. Wu was at home in the central Chinese city of Wuhan, preparing to go to neighboring Henan province to protest a freeze on his accounts by two struggling banks there that is threatening a big chunk of his family’s savings.
But when the information technology professional checked his health code – a QR code showing COVID-19 risk status – he was shocked to see it had turned from green to red, meaning he was barred from traveling. He soon discovered he was not alone – more than 1,300 frustrated depositors
