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.
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Wen Jiabao: tough talk on banking "monopoly", but is he serious?
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<div style="text-align: left;"> Wen Jiabao: tough talk on banking "monopoly", but is he serious? </div>

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.

Indeed, the country’s penny-wise savers have grown so resentful at the myriad bank charges that the China Banking Regulatory Commission CBRC has warned lenders that they face “severe punishment” if it deems their fees excessive.

Chinese bank customers have long grumbled about such charges, but their anger was inflamed when the banking industry posted yet another year of big...

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