Bank runs in China spur checks on big cash transactions

[Lorix]

Checks are being rolled out as smaller lenders struggle under a mountain of bad debt.
China is imposing checks on large money transactions after several bank runs threatened to topple smaller banking institutions.

Limits on businesses and individuals withdrawing large amounts of cash, without prior approval, will first be introduced in Hebei province, and then extended, according to a statement from the government-run People’s Bank of China, Bloomberg reports today.
More info: https://decrypt.co/34688/bank-runs-in-china-spur-checks-on-big-cash-transactions