Latest News:  


ICBC system upgrade paralyzes service, causing online liquidity fears

(Global Times)

09:22, June 25, 2013

The Industrial and Commercial Bank of China (ICBC), the world's largest bank by market value, apologized to its customers Sunday for a paralysis of service in some areas in the country.

On Sunday morning, many ICBC clients in areas including Beijing, Shanghai and Southwest China's Sichuan Province complained online that they were unable to get cash from ICBC ATMs, and that their efforts to access ICBC services such as telephone and Internet banking had all failed.

The massive banking system paralysis aroused concerns over the bank's liquidity. Some Internet users said they wondered if ICBC lacked money, due to a recently reported sharp reduction in the flow of credit between banks, which had pushed up the cost of interbank loans.

Some even speculated that Internet hackers could be attacking ICBC's banking system, leading customers to worry about the safety of their money.

In response to customers' questions, ICBC announced at noon on its official Sina Weibo account that the bank was working on upgrading its computer system, which made its services "progress slowly" between 10:38 am and 11:23 am Sunday.

"Now the system has recovered, and all services can be provided normally. ICBC apologizes for any inconvenience caused to clients," the statement read.

The statement did not quiet all the online critics, some of whom said that they found ICBC's apology unsatisfactory because the bank should have notified clients in advance, and should have upgraded the banking system at night.

We Recommend:

'All in Tuning All in Caravanning' Show

HK's new cruise terminal receives luxury liner

Huawei unveils thinnest smartphone in Singapore

Airbus A350 lands safely from test flight in S. France

Special coverage: China-EU solar row

Highlights of ATC Show 2013

Top 10 luxury villas of China in 2013

Turn rabbit to 'gold' - A young entrepreneur's goal

Hilton to open 120 new hotels in China

Email|Print|Comments(Editor:WangLili、Gao Yinan)

Leave your comment0 comments

  1. Name


Selections for you

  1. Ground-to-air missile brigade conducts drill

  2. Officers and men in anti-chemical drill

  3. Old photos of Vietnam War

  4. Technology cracks down on fake products

  5. 6 golden pythons get new home in Guangzhou

  6. Childhood in an isolated sterile room

  7. Best sports photos: Loli of Spain

  8. Bodyguards train on protecting VIPs

  9. Luxury China 2013 kicks off in Beijing

  10. High-end singles party attracts swarm of girls

Most Popular


  1. Situation on Korean Peninsula delicately balanced
  2. Foreign companies eye new 'opening-up'
  3. Third parties aid Chinese customers' needs
  4. Profiting out of Africa comes with risks
  5. China's outbound investment at turning point
  6. Dog meat festival, 'bloody carnival'?
  7. Obama's deeds more important than his words
  8. Social media lures us to throw away privacy barriers
  9. What has the Prism program taught us?
  10. China to sustain prudent monetary policy

What’s happening in China

Chengguan, sometimes criticized for brutal force burdened by reputation

  1. Detection dogs sniff out the spotlight
  2. Two drivers probed in drug-driving crackdown
  3. Man gets 6 years over kidnapping
  4. Rape trial after prior execution
  5. Beijing migrant school recognized by global group