China freezes Myanmar traders’ accounts

The border crossing between Ruili in China and Muse in Myanmar. Photo: Mizzima

Chinese authorities have frozen seven bank accounts owned by Myanmar traders who do business along the border in northern Shan state, claiming that the funds they contain are linked to illegal gambling activities, RFA reported on 26 March.

The banks began freezing the accounts of businesspeople who operate in the 105-mile Muse border trade zone across the Shweli River from southwestern China’s Yunnan province on March 23, blocking deposits worth more than an estimated 200 million kyats (U.S. $148,300).

Last June, three Chinese banks with local branches in Myanmar’s border area froze 132 bank accounts owned by Myanmar businesspeople who traded in the area, claiming that their funds were linked to illegal activities such as smuggling, gambling, and drug dealing.

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