Chinese police detain suspect after rumour sparks rural bank run

SHANGHAI (Reuters) - Police in the rural Chinese city of Yancheng have detained a person suspected of spreading rumours that sparked a three-day bank run, security officials said on the city police force's official microblog on Thursday.

Government, bank officials and residents all referred to a rumour that a local bank branch had turned down a client's request to withdraw 200,000 yuan ($32,200), which sparked the speculation the bank was insolvent. This prompted a rush among depositors to withdraw cash.