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More than 3,000 mainland bank outlets closed in a year

With CCP’s fake paintings as deposit, with CCP’s “envelops loan”, the high-level CCP kleptocracies have completely emptied the hard-earned money of Chinese people saved in the banks. Yet the burst of CCP’s economy bubble would mean the collapse of the entire world economy Source… Visit…

Translation and commentary: Jenny Ball
Editor: peacelv

A large number of mainland bank outlets have been closed, causing great inconvenience to the elderly. The picture shows the Shanghai Branch of the Agricultural Bank of China. (MARK RALSTON/AFP via Getty Images)

Since the beginning of this year, mainland banks have closed more than 3,000 bank outlets. The main reason for the bank’s move was cost considerations. However, the closure of these outlets has caused inconvenience to many elderly people.

According to a report from China Times Finance on November 9, the reporter found that in the past year, including major state-owned banks, as many as 3,196 bank outlets have been closed, and more than 10 outlets have been closed from November 1 to November 9 alone.

In this regard, independent economist Wang Chikun analyzed to the media on November 9th: “Bank branches are experiential consumer services and require high construction costs. In recent years, young people rarely go to branches to do business. Storage capacity is declining, and renewal rents are doubling, resulting in high overall costs.”

Liu Xingsai, the author of the book “Platform Banking”, told the media: For a long time in the past, many outlets performed poorly, and “the bank’s current traditional physical Lost the status of the bank’s main channel.”

However, the decrease in bank outlets has brought inconvenience to the elderly who are not proficient in using smart phones.

A lobby manager of a state-owned bank revealed to Times Finance and Economics on November 9 that the current customer base of the outlets is mainly the elderly, and the bank has also added a lot of services for the elderly.

A white-haired old man who handled money withdrawals in the lobby of a branch of the Agricultural Bank of China in Guangzhou said: “I came to withdraw money. I usually don’t come very often. I don’t use a smartphone myself. I need money. I have to come to the bank.”

Many mainland netizens share the same inconvenience caused by the bank’s cancellation of outlets.

Netizen “Han” said: “My parents do not use ATMs, let alone Alipay, WeChat Pay and other platforms. They still use accountbook as they did 20 years ago.”

“Zhi Yuan and Jing” said: “Most of them use accountbook. The amount of money on it is really visible. Looking at An Xin, I take a card and don’t know how much money I have without using a mobile phone.”

Commentary: It is not “resulting in high overall costs” the has caused more than 3000 bank outlets closed, the fact has been revealed in Miles Guo’s live broadcasting long ago: all the banks in China have been at more than 70%  in debt. With CCP’s fake paintings as deposit, with CCP’s “envelops loan”, the high-level CCP kleptocracies have completely emptied the hard-earned money of Chinese people saved in the banks. Yet the burst of CCP’s economy bubble would mean the collapse of the entire world economy.

Source of the article: hk.epochtimes.com

Disclaimer: This article only represents the author’s view. Gnews is not responsible for any legal risks.

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