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Commercial Bank Constructs Digital Center in Shanghai
The construction of the digital processing center of the Industrial and Commercial Bank of China (ICBC) has been inaugurated in Shanghai this weekend.
Jiang Jianqing, governor of the ICBC, kicked off the inauguration Friday for the digital processing center scheduled to be completed in March 2002.
The center will be the most advanced computerized banking database in the country, financial experts said.
As China is to be a member of the World Trade Organization (WTO), the country's banking industry must be equipped with up-to-date technologies in order to compete with global counterparts, Jiang said.
In September 2000, the ICBC decided to establish two digital processing centers, one in Beijing and the other in Shanghai, which will integrate and process digital information gathered from over 40 sub-centers and tens of thousands of branches throughout the country.
The ICBC has set up an efficient and safe computerized network,which covers 98 percent of its subsidiary terminals nationwide.
The country's leading commercial bank is also providing an on-line service.
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