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April 3, 1996


By CBR Staff Writer

China will link 10,000 postal savings bank branches by computer over the next three years to cope with sharply growing savings, the China Daily said. The new system would enable customers depositing money in one city to withdraw it in others, By the end of 1996 post offices in 50 major cities would have a total of 1,000 automatic teller machines. China’s postal savings deposits hit $19,400m at the end of 1995 and have been growing at over 50% annually. The paper quoted the post and telecommunications vice- minister as saying that deposits will likely reach $48,200m by 2000.

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