China's state-owned Agricultural Bank of China (AgBank) suspended an account used for crowdfunding Myanmar rebels. The suspension was to preempt a possible breakdown of relations between Beijing and Myanmar.
The Myanmar conflict is led by the Myanmar National Democratic Alliance Army (MNDAA), which stated that they had an account in AgBank that was used to get donations from sympathizers to their cause.
AgBank refused to answer questions on the suspension but asserted that they "diligently obeyed relevant laws, regulations and regulatory requirements."
However, observers think that the issue has opened a new realm of questions regarding China's participation in the Myanmar conflict. AgBank is now suspected of engaging in shady dealings with the rebels.
The rebels refuse to engage in a peace process and their acquisition of weapons will continue. This is in spite of the frozen account.
Yan Zhen Kun, an MNDAA member and takes charge of donations, said that the account was frozen.
He said, "We were told by the bank that we need to finalize some procedures. It did not tell us how long this might take."
The account contained about $500,000 that was deposited to the account; some of it was wired through WeChat or Alipay, a subsidiary of Alibaba.
Suu Kyi, the president of the Myanmar government, welcomed the move and said that Myanmar is confident that Beijing had nothing to do with the account.
Myanmar's presidential spokesman, Zaw Htay, said, "We appreciated this action. Stability and peace in the border area are common interest for both sides. It was a very positive move from China."
A spokesperson from China's foreign ministry, Hua Chunying said that the Chinese government will not let any group derail the relations between Myanmar and China.
She said, "We consistently persevere in not interfering in other countries internal affairs and respect the entirety of Myanmar's sovereign rights and territory. We will not allow any group or individual to use China's territory to undermine China-Myanmar relations and the border regions' stability."
The spokesperson added, "For any illegal activity, we will deal with it according to law."