One narrative that is gaining some amount of credibility in my mind -- A lot of these accounts were used to launder money or funded with dodgy shadow banking loans. In their own inept way the party and its banks went overboard and there is a lot of collateral damage + some skull crushing.
No clue how real this narrative is, but my bets are that there is a little bit of truth in this.
In every other country’s protests (and Tiananmen), the patriotic commenters usually describe it as evidence of colour revolution. They are interestingly mostly quiet on this particular instance right now. Maybe they have RMB deposits too.Love how these guys in the middle of some third tier town are going on about "human rights" in English, for the international headlines. Slick ..
Bank offered a really high interest on deposits to persuade people to join in but in the end the bank couldn't pay up...
Men in White + MIB's = no intimidation from gov