LINE

Text:AAAPrint
Economy

More mobile banking subscribers in rural China

1
2017-03-19 09:31Xinhua Editor: Huang Mingrui ECNS App Download

Some 373 million rural Chinese residents made payments by mobile banking apps in 2016, an increase of 35 percent, according to central bank data.

Transactions totaled 23.4 trillion yuan ($3.4 trillion), up 71 percent. The number of transactions jumped by 62 percent to 5.1 billion, according to the People's Bank of China (PBOC).

Mobile banking posted the fastest growth among non-traditional payment methods in rural China, with online banking stagnant and telephone banking falling significantly.

It is costly and time consuming for residents in underdeveloped or remote areas to reach banks and ATMs, so mobile banking is becoming crucial in rural areas.

About 126,700 bank branches are located in rural areas, or 1.4 branches for every 10,000 residents, with 3.8 ATMs per 10,000 residents.

  

Related news

MorePhoto

Most popular in 24h

MoreTop news

MoreVideo

News
Politics
Business
Society
Culture
Military
Sci-tech
Entertainment
Sports
Odd
Features
Biz
Economy
Travel
Travel News
Travel Types
Events
Food
Hotel
Bar & Club
Architecture
Gallery
Photo
CNS Photo
Video
Video
Learning Chinese
Learn About China
Social Chinese
Business Chinese
Buzz Words
Bilingual
Resources
ECNS Wire
Special Coverage
Infographics
Voices
LINE
Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
Copyright ©1999-2018 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.