ICBC E-banking Trade Volume Tops 3 Trillion Yuan

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Last updated at: (Beijing Time) Friday, December 14, 2001

ICBC E-banking Trade Volume Tops 3 Trillion Yuan

The Industrial and Commercial Bank of China (ICBC) announced Thursday that its electronic banking had produced 3.14 trillion yuan of trade volume by November this year. E-banking will be more and more popular with domestic clients and help the bank explore new services while it competes with foreign banks.

ICBC generated 3 trillion yuan through E-banking

The Industrial and Commercial Bank of China (ICBC) announced Thursday that its electronic banking had produced 3.14 trillion yuan of trade volume by November this year.

The ICBC, one of the four state-owned commercial banks in China,became the first to reach this level among the Chinese commercial banks, an ICBC spokesman said.

The bank's on-line banking trading volume topped 500 billion yuan, of which 110.5 billion yuan came last month, he added.

E-banking services are more and more popular

The ICBC has opened on-line banking business in over 280 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 on-line banking clients.

With the development of computers and information technology, e-banking will be more and more popular with domestic clients and help the bank explore new services while it competes with foreign banks, the spokesman said.

Features of E-banking

1.Convenient-opening procedure: The on-line payment, as an affiliate business is offered by ICBC on-line banking. Clients of ICBC on-line banking who have purview of fund transfer to any account can make the use of it without other application processing. The purview is set in client certificate, when clients make the on-line banking application, that bank pay to non-limited drawers.

2.Supporting multi e-businesses: supporting funds clearing not only to matching websites which provide trading platform for both buyers and sellers, but also to on-line buying and then retailing websites which are set up by sellers.

3.Advanced and comprehensive security: Security and benefits of clients top on agenda for ICBC. Enterprises involved in B to B on-line payment are limited according to their creditworthiness.

4.Information added value services: providing feedback real-time information for each e-payment order for agreed dotcom and payee at twice who can learn the update trading schedule. For first time, once receiving the client's order of e-payment, banks automatically provide feedback information of having received payment order to both dotcom and payee.

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