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Banks in China use pork to lure customers to deposit money

Offering expensive pork portions as a reward for opening an account is the latest gimmick being used by some small local banks in China.

On December 16, customers depositing 10,000 yuan ( US $ 1,430 ) or more in a three-month term deposit at the Lam Hai Rural Commercial Bank in Duqiao, Zhejiang Province, were eligible to participate. lottery to win a portion of pork from 500 grams to several kilograms.

“The money is still mine and the interest is good. In addition, I am very happy to receive a piece of pork,” said a female customer who deposited about 20,000 yuan ( US $ 2,900 ), received by Metropolitan Express.

According to the newspaper, the bank distributed 1,097 deposit bonuses on December 16. This is after a series of elderly customers lined up in front of the bank early that morning.

“This is a pretty good idea and is very popular with locals, especially the elderly,” said a bank employee.

Other rural commercial banks in Hebei and Guizhou provinces have offered similar pork reward programs.

According to the South China Morning Post , the Xinshan rural commercial bank, located in a remote mountainous district in Guizhou, offered a 10-yuan ( US $ 1.4 ) pork coupon for every 10,000 people. New deposit currency. Pun intended.

An outbreak of African swine cholera has killed more than 100 million pigs in China. This has caused pork prices to skyrocket, with the November consumer price index rising 4.5% from a year ago. This is largely due to the increase of 110.2% in pork prices.

Experts said that despite the recent signs of improvement, the crisis could get worse next year before being pushed back. On December 17, the government announced it would provide an additional 40,000 tons of frozen pork stockpile on December 19, after stockpiling about 40,000 tons a week earlier.

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