If You Can't Swindle, Then Rob? Chaos of 'Secret Account Openings' at Chinese Banks!

If you can't swindle, then rob. Chaos of secret account openings at Chinese banks. Another failure of Mr. Xi, Hengshin Island is like an empty city. If you can't swindle, then rob. Chaos of secret account openings at Chinese banks. Recently, the CCP has promoted individual pension accounts across the country, but many people do not buy into it. First, they have no money, and second, they do not trust it. However, depositors in many places have recently discovered that banks have secretly opened individual pension accounts without their knowledge. Netizens could not help but say, this is a scam that has failed, and they are starting to rob openly. China's individual pension system was piloted in 36 cities, regions, in November 2022. On December 12th, 2024, the Ministry of Human Resources and Social Security of the CCP and five other departments announced that the system would be implemented nationwide from December 15th. Forced account opening chaos frequently occurs. Personal pensions are a supplementary pension insurance system that individuals voluntarily participate in, but recently, many netizens have said on social platforms that people sit at home and the account comes from the sky. Personal pension accounts were opened by banks without their knowledge, and the banks involved include several large state-owned commercial banks. According to news reports, on December 15th, Mr. Liu from Jining, Shandong, received a text message. Bank of China has completed the opening of a personal pension account according to your appointment application, but he said that he had never made an appointment to open an account. Mr. Liu said, I opened the mobile banking app and there was an extra account. It was equivalent to opening an account for me without my knowledge. The bank card I used before was opened in Dongying, Shandong, but I saw that the personal pension account opened was in Jining, Shandong. According to the First Financial Daily, Ms. Li, who works in Guangdong, told reporters that she and her colleagues received a notice from the bank on December 15th saying that the personal pension fund account of Industrial Bank has been successfully opened and reminding them to log in according to the prompts. However, according to Ms. Li's recollection, she had not made any direct appointment registration or clicked on a third-party platform to make an appointment. When she applied for a salary card at the bank, she did not sign the content to open a personal pension account. In addition, some customers were serialized. A customer shared on a social platform that he first received a notice on December 15th that a personal pension fund account had been opened by a joint stock bank. After his complaint led to its cancellation, he received another notice on the morning of the 16th that a personal pension account had been opened at a state-owned bank. On December 17th, a Shanghai netizen posted on social media that he suddenly discovered a personal pension account had been secretly opened by Minsheng Bank. The identity information used for the account was his from 10 years ago. He said, I changed my name in the middle and I can't pass Minsheng Bank's facial recognition now, so there was no operation by me. On the Black Cat complaint platform, there are 468 entries from depositors claiming their personal pension fund accounts were opened without their knowledge. The banks involved include Bank of China, Industrial and Commercial Bank of China, Agricultural Bank of China, Industrial Bank, Bank of Communications, among others. Bank staff paid out of their own pockets to complete target assessments. Beijing Business Daily reported two main scenarios in which depositors had accounts opened without their knowledge. One, where customers were completely unaware and accounts were opened without any contact with the bank. And two, where during other business transactions, bank staff directly made appointments for personal pension accounts without the customer's consent, mostly to meet deposit assessment targets imposed by superiors. Bank employee Zhao Lili revealed that starting from December 15th, the branch where she worked required each employee to open five personal pension fund accounts daily. If employees failed to meet the target, they were required to work overtime to find new customers. To meet the target, she offered a 30 Yuan red envelope to each household to attract customers. Netizens commented, bank employees have been forced to this point and customers are suffering. This is a scam that has begun to rob openly. Ponzi scheme, it's clear this so-called personal pension is unreliable. And history tells us that whenever something is said to benefit most people, there's always a huge pit to fill. Some also said, I can't even afford the basic pension, let alone the personal pension. Lawyer, opening an account for a customer without authorization is an infringement and illegal. Liu Tianjun, the chief lawyer of Guangdong Numerous Law Firm, stated that banks should obtain customer's consent before opening personal pension accounts. If a customer's identity information is used without authorization to open an account, it clearly goes against the customer's true wishes. In such cases, the contract between the two parties is invalid and the customer's basic information rights as a citizen are infringed. This behavior not only violates regulations, but also involves infringement and illegality. He further explained that in such disputes, the burden of proof lies with the bank to demonstrate that the account opening aligns with the customer's true wishes. The bank is responsible for proving that it clearly introduced the personal pension account service and obtained the customer's consent. Liu Tianjun added that if the bank or a third party transfers welfare funds into the account without the customer's permission, increasing the difficulty of cancellation, it is suspected of illegal operation. Another failure of Mr. Xi, Hankin Island is like an empty city. On the 25th anniversary of Macau's return, Xi Jinping, the leader of the Communist Party of China, reiterated the development positioning of the Hankin-Guangdong-Macau Deep Cooperation Zone. However, Hankin's past achievements have been questioned, with many considering it an unfinished project and a dead city. On December 20th, Xi Jinping attended the 25th anniversary of Macau's sovereignty handover. During the event, he specifically mentioned Hankin, claiming that the central government decided to develop Hankin to promote the moderate diversification of Macau's economy. Hankin Island, located in the southern part of Guangdong Province, is adjacent to Macau and Zhuhai City. It is currently jointly governed by the Macau Special Administrative Region and Guangdong Province. In 2009, during an inspection of Macau, Xi Jinping announced plans to develop Hankin Island. And in September 2021, the Guangdong-Macau Deep Cooperation Zone was established. However, 15 years later, Hankin Island remains an empty city. Tang Jingyuan, a current affairs commentator based in the United States, remarked, during the Deng Xiaoping era, many development zones were established, which seemed to be relatively successful special zones. However, this success was not due to the CCP's own abilities or brilliant policies. It relied mainly on attracting foreign capital and technology. The CCP temporarily gained some dividends by adopting methods like breeding, killing and copying these technologies, using curve overtaking strategies. Xi Jinping, however, is under a huge illusion, believing the CCP can succeed on its own. Projects like the current Hankin Development Zone are ultimately failures and remain unfinished. China's economy continues to be sluggish and concerns about the future are growing. Despite this, the CCP government emphasizes that the economy is on a recovery trend. The self-media outlet Lan Sa uploaded a video comparing Hankin's changes from last year to this year. The video highlighted numerous unfinished buildings and many retail businesses on the streets have closed down. Some netizens commented that over the past year, the Hankin checkpoint has remained unfinished and those affected have no way to lodge complaints. Departments push responsibility onto one another, leaving victims frustrated. In a place without laws, who dares to invest? Discussions about Xi Jinping's major achievements during his tenure are ongoing. Chinese netizens have voted on a list of unfinished projects under Xi, with the top three being the 10 Trillion Chip Projects, One Belt, One Road and Xiongnan New Area. Other unfinished projects include the Beijing Stock Exchange, the Asian Infrastructure Investment Bank, Made in China 2025, the Thousand Talents Plan, real estate, poverty alleviation projects, energy conservation and carbon reduction initiatives and 21 free trade zones. In recent years, China's economy has continued to decline. Impacted by the real estate industry, the banking sector is now in crisis. Recently, several bank branches in China have faced difficulties with cash withdrawals, leading to dissatisfaction among depositors. Regarding the reduction of bank card transfer limits, many users believe that banks are deliberately making it harder for funds to flow out by setting such limits. According to a recent report by Shell Finance of the Beijing News, many bank card users reported that their bank card limits were restricted without their knowledge. Some people visited bank branches to increase their credit limits in order to use their bank cards normally, but some cardholders ultimately gave up using them altogether. Since the second half of this year, numerous banks have issued announcements stating they will adjust the non-counter transaction limits of some personal bank settlement accounts. These announcements mentioned financial institutions such as the Bank of China, China Construction Bank, Agricultural Bank of China, and Jiangxi Bank. Regarding the reduction of bank card transfer limits, many users believe this is a deliberate move by banks to prevent funds from flowing out by setting strict limits. However, bank personnel explained that the measure primarily aims to prevent telecommunications fraud. Despite this, all affected bank card users reported that their non-counter transfer limits were lowered without notification, and the bank did not send SMS notifications became a common complaint. One affected user, Li Yun, said she did not expect her salary card to be suddenly restricted. In July this year, she originally planned to withdraw reimbursement funds from the Bank of China, tens of thousands of yuan, but both the transfer and ATM withdrawal failed because the daily transfer limit was exceeded. Unexpectedly, another Jiangxi Bank Class 1 card under her name, primarily used for mortgage payments, was also restricted in July and August. Li Yun had used these two bank cards for many years without previously encountering any transfer or ATM withdrawal limits. However, both banks had now set a daily mobile transfer limit of 2,000 yuan on her cards without notifying her. Li Yun said, the Bank of China staff initially told me to go to the branch with my ID to handle it, but when I arrived at the branch near my home, they said I needed to visit the branch where I opened the account. She couldn't complete the process that day because the branch was closed, and it took her a month to successfully increase her credit limit. According to a report by Shanghai Radio and television station Cancon News on the 14th, recently, some bank card users reported that their personal bank card transfer limits were reduced without their knowledge. Some users said they could not even transfer 1,000 yuan. These customers believe that banks are limiting non-counter transactions to prevent funds from leaving. In January this year, Zhupai News reported that a woman in Pingdingshan City, Henan Province, said her sister had transferred money to her and asked her to withdraw 5,000 yuan for a New Year's red envelope, but she encountered issues while withdrawing the money at Zhongyuan Bank. Ms. Wang, the individual involved, said that the staff initially asked her to download an anti-fraud app, and she cooperatively answered all their questions. However, they began asking more personal questions, including where her sister worked and where she had worked previously, and even asked her to prove her sister was a biological relative. After calling the police, it took nearly two hours to complete the withdrawal. Similarly, according to Poster News, a woman in Jiangxi posted on social media that she went to a bank with 100,000 yuan in cash for a fixed deposit, but the bank staff unexpectedly asked about the origin of the money. The woman said she thought, why does it matter where my money comes from? Just follow my instructions. She felt it made her look like she had stolen the money. When she asked why they questioned her, they responded that it was bank policy. In response, some netizens commented, the banking system really needs reform. The service attitude varies greatly. When depositing money, they treat you like a VIP, but when withdrawing, it's a different story. Iconic moment. The women from small cities are embarrassed to be downgraded. People have an image of the lives of women from small cities. They have no mortgage or car loan, no worries about food and clothing, and don't have to work hard in the workplace. Although their cashflow is not much, they spend as much as they earn, and a sense of relaxation permeates all aspects of their lives. But in reality, under the current wave of severe economic recession in China, the ladies of third and fourth tier cities have also downgraded their consumption. I haven't eaten at Heidi Lau in a long time. On the night after dinner at Heidi Lau, Ru Ru and her colleagues went to the underground parking lot to pick up the car. She enthusiastically led the way for her new colleague, Li Lin, saying that she could reach the one-way street by turning left. As a result, she walked a long way before realizing that the road was blocked. She explained awkwardly, sorry, I haven't eaten at Heidi Lau in a long time because I'm so poor. The women laughed and soon shared their experiences of downgraded consumption. Li Lin, who had returned to her hometown of a fourth tier city from the provincial capital a year ago, used to invite friends to dinner once a week. Gradually, the frequency of dinners decreased until it became once a month. If Ru Ru hadn't suggested they eat together, the new colleagues would still be a bit unfamiliar because they didn't gather often and didn't have the chance to gossip and chat. Four years ago, Heidi Lau's opening was a landmark event in the consumption upgrade of Shaanxi's fourth tier cities. When Heidi Lau and Starbucks came to town, it was a sign that the area was evolving. Her boyfriend had boasted that with Heidi Lau, Starbucks, Pizza Hut, and Wanda, their big city would soon be a new fourth tier city. At that time, she didn't think much of it, feeling there was nothing to be proud of. Finance sister Liu recalled that before Heidi Lau came to town, her family would drive 200 kilometers to the provincial capital just to have a meal there. Now that I think about it, it was really luxurious. When Heidi Lau first opened, if customers chose it, they felt they were being treated specially. During the Chinese New Year, sister Liu tried to have a meal with her family, but was shocked to find the place packed. The wait was at least three hours. After the eighth day of the Lunar New Year, once work resumed, it became harder to find the previous scene of just walking in and eating right away. People in small cities don't dare to spend money casually, is Ru Ru's feeling over the past two years. As a former migrant worker in Shenzhen, when she first returned to marry into a family in a small city, she enjoyed the relaxation of being able to spend freely. Her husband is an only child with a stable job. Ru Ru married into a family that is considered well-off in a small city. They often visit places like Wanda Plaza, and her mother-in-law buys Bo Siding down jackets for everyone as soon as winter comes. Every year, Ru Ru's family drives thousands of miles to Hainan for the Spring Festival, playing their way back to another home, making her colleagues envious. Her husband's friends are also second-generation locals, and they gather often to talk about high-end secrets, such as who knows whom, who has connections in Beijing, and who is paving the way for whom. Changes happened unconsciously. Ru Ru remembered once when she and her husband were out walking with their baby, and the rubber-soled socks the child was learning to walk in fell off. They cost more than 10 yuan a pair. Normally, she wouldn't have bothered looking for them, but that day, she and her husband chose to go back the same way to pick them up. This was one of the iconic moments. Before marriage, she sought different life experiences. She had no fixed job and would quit if she didn't like it. She loved traveling and flew to many countries. When she wanted to buy a car, she borrowed more than 100,000 yuan online. After giving birth, she only wore work clothes and applied baby cream to moisturize her skin. She didn't post on WeChat moments for a long time, feeling like there was nothing worth posting. Her only act of self-care was to treat herself to a 48 yuan head massage every two weeks. Li Lin's story. Li Lin is also part of the middle class who retreated to a small city. She and her husband worked in the provincial capital for many years. They witnessed the peak of the real estate industry and regret not switching to sales to buy a few houses. Now, with the real estate market in decline and two companies having collapsed, her husband is managing to survive, but Li Lin is struggling. The group has withdrawn all its projects in North China and she lost her job, forcing her to return to her hometown. There are few job options in small cities. Li Lin's salary has drastically dropped and her new job only allows one day off. Her parents are in poor health and can't help with the children's homework. Li Lin is exhausted caring for her two children alone and has no time for herself. Naturally, her consumption has also been downgraded. Her husband still works in the provincial capital and goes home every week to reunite with them. At first, they took the high-speed rail back and forth, but after a while, he began carefully calculating and drove, earning tolls along the way.