Technology to Take Chinese Banking Industry Beyond Yuan 60 Trillion by 2010

The Chinese banking industry is set to cross Yuan 60 Trillion by 2010 due to rapid technological advancement, expansion of banking business to rural parts and launch of new products.

Delhi, India, December 13, 2007 --( As per the latest report published by RNCOS on the phenomenally growing banking sector of China - “China Banking Sector (2007-2011)” - the Chinese banking sector is anticipated to surpass Yuan 60 Trillion by the end of 2010 increasing at a rate of more than 16%.

The every growing Chinese population, shifting economic scenario, upgrading of the rural infrastructure and wide scale implementation of technology in banking is raising the Chinese banking industry to new heights, says the RNCOS report. And launch of new products, product customization and banks stepping into the insurance business are leading to both vertical and horizontal expansion of the banks.

Besides, technology in China has played a significant role in diminishing the large gap between the rural and urban banking industry. At the same time, technology is also likely to augment the penetration of banking sector to increase the reach of banking products and services to the large rural population in China in future, the report adds.

Furthermore, the report identified the future of the banking sector in China as promising. The research says, the biggest opportunity area for the industry lies in the rural banking services and debit and credit card industry, as the government is showing strong initiative for the growth of this segment.

The research said that the growth of Chinese banking industry will be further driven by the increasing globalization of the industry and rising competition, along with the evolution of international banks and the growth in financial services offering.

The study also notifies the challenges, like increasing bad debts, banking crime, customer retention, rising liquidity level and overheating economy, faced by the Chinese banking sector which it needs to overcome to move ahead in the right direction.

"China Banking Sector (2007-2011)" presents a comprehensive and updated overview of the thriving Chinese banking industry. It provides extensive research and in-depth analysis of the various banking parameters such as the industry performance, product quality, banking services, growth opportunities and challenges along with future outlook of the banking industry.

The report does a prudent analysis of the various Chinese banks. Besides, the study also discusses the debit and credit cards market, ATMs, assets, and liabilities of the banking industry along with their future prospects.

About RNCOS:

RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.

For more information visit:
Current Industry News:

Shushmul Maheshwari
Head of Business Development
29, 1st Floor, Patparganj Industrial Area, Delhi 92