Birdwatch Note Rating
2025-05-08 14:30:54 UTC - HELPFUL
Rated by Participant: F84822F502E92F069659B7E05DBE49E5DF05899B154FF6E9E3455E102EBAC6CE
Participant Details
Original Note:
As of 2023 China had 4,561 banks. This video claims that 40 banks collapsed in just 1 week. In fact, the 40 banks were consolidated into other banks, and represent less than 1% of the total number of banks. This happened 1 year ago, and has precedents e.g. Spain. https://www.investorinsights.asia/post/introducing-china-s-banking-sector https://en.m.wikipedia.org/wiki/List_of_banks_in_China https://www.msn.com/en-ie/money/other/china-s-banking-turmoil-40-banks-vanish-jiangxi-leads-collapse/ar-BB1pKGjU https://asianbankingandfinance.net/retail-banking/exclusive/let-chinas-small-banks-fail-analyst
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