Chinese bank fees

CBRC cautions Chinese banks against excessive fees

China's banks continue to earn bigger profits even as the economy slows, but the country's banking regulator is now promising to take tough measures against banks that charge excessive advisory fees.
<div style="text-align: left;"> Wen Jiabao: tough talk on banking "monopoly", but is he serious? </div>
<div style="text-align: left;"> Wen Jiabao: tough talk on banking "monopoly", but is he serious? </div>
April 12, 2012

The numbers may not seem big — Rmb10 ($1.58) for changing a password, Rmb10 for reporting a lost or stolen debit card, Rmb25 for opening an online account, Rmb3 to get a text message reminder — but China’s 1.3 billion multiplier effect means that local bank fees soon add up.

¬ Haymarket Media Limited. All rights reserved.

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