Online Banking Legislation DemandedThere are many thorny problems that need to be solved for online banking. These are as represented by various rules, regulations and standards that have to be worked out and put in use in financial work, Wu Jiapei, vice chairman of China Information Association said Wednesday at the ongoing symposium on "Informatization and Modern Finance".Wu said that the establishment of regulations and standards with regards to online banking is in urgent need and various international factors should be taken into account as of no national boundaries and fierce competition in online banking. The development of online banking depends on cooperation to be developed among banks, software developers, hardware suppliers and system integration enterprises, therefore, unified standards should be formulated to shed away confusion and promote efficiency, the official said. |
| People's Daily Online --- http://www.peopledaily.com.cn/english/ |