E-banking develops fast in China

(07/31/2001) (xinhua)

Statistics from the Industrial and Commercial Bank of China (ICBC) show that the bank's electronic banking has been developing fast, with a trading volume of over 1. 92 trillion yuan (US$234 billion) in the first half year, matching that of last year's total.

A spokesman for the ICBC said that in the first six months, the bank's online banking trading volume reached 213.8 billion yuan (US$25.76 billion), up 13 times from the end of last year; telephone banking trading volume reached 112.6 billion yuan (US$13.57 billion), doubling last year's figure; while mobile phone banking volume realized a trading volume of 31 million yuan (US$3.73 million).

At the same time, corporate online banking clients increased by 1,100 to break 2,000; and individual online banking clients are up to 330,000.

He said that the ICBC has opened online banking business in 286 large and medium-sized cities throughout the country, and large enterprise groups such as Guotai Jun'an Securities Firm, Air China, Sinopec and China Mobile have become the bank's online banking clients.

Over the past few years, the ICBC has established an e-banking comprehensive service system comprising phone banking, online banking, corporate banking and ATMs, he added.

He said that in late October the bank will upgrade its individual online banking system, which will enable some 80 million holders of Peony card, the bank's credit card, to enjoy online financing and online shopping.

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