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Article: Online banking sector set to boom
- Article from:
- China Daily
- Article date:
- October 4, 2002
- Author:
CopyrightCopyright 2002 China Daily. Provided by ProQuest LLC. (Hide copyright information)
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Online banking is expected to witness a rapid expansion in China
but despite the optimism, problems still exist in the sector.
Gao Cailin, a researcher with the Policy Department of the
People's Bank of China, predicted that as people become more familiar
with the Internet, traditional banking methods will decrease, leaving
online banking to boom.
China's online banking sector lags far behind the world's
developed countries, which adopted the Internet earlier than China.
"However, it has developed much faster than in advanced
countries," Gao said.
He said although China has learned much from observing online
banking in Western countries, obstacles still remain.
Laws and regulations are ...