China’s Super Online Banking System Launched In Four Cities

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The People's Bank of China's second generation Internet payment system, which is also know as the super online banking system, has been formally launched in Shenzhen, Tianjin, Beijing, and Guangzhou.

According to the schedule, this new system will be available in ten additional cities, including Shanghai, Hangzhou, and Nanjing by mid-October, and will be further expanded to other cities in China by mid-November 2010.

An insider from a bank in Shenzhen revealed that the new super online banking system has better functions, including 24-hour cash flow, real-time interbank fund transfer, and interbank account management. The launch of the new system aims to improve the system efficiency of business banks and eliminate the internal consumption problem of the online banking systems of these business banks.

Under the technology requirements ...

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