China’s Banks Are Out of Money, With Employees Refusing Withdrawals and Throwing RMB in Anger (Video)
In this 29 March 2025 published video, footage shows a 23 March scene at the Bank of China branch on Tuanjie Street in Xilin Hot, Inner Mongolia. An agitated customer was trying to withdraw money. A bank worker, who was taking money out from a box, exclaimed, “There’s no more money!”
Chinese commercial banks have a huge problem. With consumers and businesses gloomy about the prospects of the world’s second-largest economy, loan growth has stalled. Beijing’s stimulus push has so far not been able to spur consumer credit demand, and is yet to spark any meaningful rebound in the faltering economy.
A staggering 40 banks were absorbed into larger institutions in just one week in June 2024—a record pace that even outstripped the U.S. Savings and Loan (S&L) crisis of the 1980s.
ICBC is China’s largest bank and is 70-percent owned by the government of China. ICBC’s total assets are placed at an estimated $2.5 trillion. It is the first large Chinese state-owned lender to acquire control of a US bank.
https://youtu.be/Z67FBwF6AFE
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