China is China, tho.  I'm in the U.S. and I remember very well how many 'stress tests' the banks that got the bailout money had to go thru in order to pay out dividends on their common stock again.  The fact that most banks in the U.S. passed those tests doesn't necessarily imbue me with total confidence in them, but it is at least mildly reassuring.

I would *not* keep any surplus money in a banking account, however.  Interest rates aren't even close enough to warrant that nowadays.  Maybe if deposits were paying 10% interest I might do it, but I'm a firm believer in putting such money to work if I'm not going to spend it.  The only way I know how to do that is to invest it, so for the past 10 years it's been mostly stocks and a smattering of crypto.  

The banks can do what they want, and if they all suddenly failed it would be complete chaos but I wouldn't be bankrupted.  For one thing, even if I did have money deposited in a bank it's insured by the federal gov't...but the main reason is that I *don't* have any money in a bank account except for a checking account which I just use for paying bills.