SHANGHAI, March 27 Police in the rural Chinese
city of Yancheng have detained the person suspected of spreading
a rumour that sparked a three-day bank run in the eastern
Chinese town, security officials said on the city's official
microblog on Thursday.
Yancheng city police detained a person surnamed Cai on
Wednesday night after a rumour was started earlier this week
that some banks in the area were insolvent. Depositors rushed to
branches of two banks to withdraw all their savings after
hearing the rumour.
The banks and Yancheng government moved to reassure
depositors that their savings were safe, packing cash to the
ceiling in bank branches to show depositors the banks had enough
cash to fulfil all necessary withdrawals.
Chinese regulators have been moving to crack down on people
spreading rumours, which they say are damaging Chinese society.
Officials in Yancheng have said those responsible for spreading
the rumours will be severely punished.
(Reporting by Adam Jourdan and the Shanghai newsroom; Editing
by Paul Tait)