Terrifying security camera footage has emerged from China showing a man snatching a bag full of cash from a woman in a lift (elevator).

The clip, which was captured in Xi’an City in northwestern China’s Shaanxi Province on December 25, shows a man with a mask following two women into a residential community.

The man then stands beside the two women waiting for a lift and suddenly grabs one woman's bag and attempts to run away.

However, the woman refuses to let go and he drags her out of the elevator into the corridor outside.

After the robber runs out of the building, several men give chase and eventually stop him.

The man was later arrested.

According to reports, the two women were female accountants from a marketing company who had earlier withdrawn cash worth about 23,000 GBP from a local bank.

Thanks to the actions of the members of the public, the money was returned.