Rumor sparks bank run in area of Jiangsu province  

江蘇射陽一銀行被傳倒閉引擠兌潮 調大批現金保供應

24日下午，江蘇射陽農村商業銀行設在鹽城環保產業園的一個網點，遭遇近千群眾擠兌現金，經了解，這是由一則該行要“倒閉”的謠言引發的擠兌事件。目前，該行啟動大批量現金供應，保證儲戶兌付到位。 [查看全文]

(ECNS) -- Nearly 1,000 people on Monday rushed to get their money out of a rural commercial bank in a county of Jiangsu province after a rumor spread that the bank was failing.

"I had all of my savings worth 50,000 yuan ($8,088) in the bank. I decided to take the money out because of a possible bank collapse," said a local resident.

The bank is located near an environmental protection industrial park in Yancheng city. A further investigation showed that there are more than 10 bonding companies in the neighboring town of Yandong, and that bosses of those companies had made off with money before.

"Our bank is a legal financial institution approved by the China Banking Regulatory Commission, and the customers' rights will be protected," said Zang Zhengzhi, party chief and board chairman of the bank.

He said the bank was trying to clarify the rumors, and that emergency funding was being used to meet depositors' demands to withdraw their savings.