China's Henan province to start 2nd round of repayments to rural bank clients

Financial authorities in China's central Henan province said on Thursday that they will commence the second round of repayments to clients of four rural banks from July 25 on behalf of the lenders.

Individuals with deposits of up to 100,000 yuan ($14,787) will be repaid, the Henan branch of the China Banking and Insurance Regulatory Commission and the provincial financial bureau said in a joint statement.

Henan authorities started the first round of repayments on July 15, following widespread protests from angry depositors whose funds have been frozen by the four lenders. ($1 = 6.7629 Chinese yuan renminbi)