Early in 2011, PBOC’s online interbank payment system so-called “Super Online Banking” was officially launched throughout the country. So far this system connects 120 individual online banking systems, each from a different bank, and processes an average of 640,000 transaction volume involving 8 billion RMB every day.
We can expect that the expansion of online payment and advancement of technology will make China become the largest E-commerce market in the next five years.