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People's Republic of China Financial Sector Assessment Program : Financial Inclusion.
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- World Bank Group.
- Series:
- Financial Sector Assessment Program.
- World Bank e-Library.
- Financial Sector Assessment Program
- Language:
- English
- Subjects (All):
- Access to Finance.
- E-Finance and E-Security.
- Finance and Development.
- Finance and Financial Sector Development.
- Financial Literacy.
- Financial Regulation and Supervision.
- Financial Structures.
- Privacy.
- Risk Management.
- Rural Finance.
- Local Subjects:
- Access to Finance.
- E-Finance and E-Security.
- Finance and Development.
- Finance and Financial Sector Development.
- Financial Literacy.
- Financial Regulation and Supervision.
- Financial Structures.
- Privacy.
- Risk Management.
- Rural Finance.
- Other Title:
- People's Republic of China Financial Sector Assessment Program
- Place of Publication:
- Washington, D.C. : The World Bank, 2017.
- System Details:
- data file
- Summary:
- China has made significant progress in financial inclusion. High levels of account penetration, savings, and usage of payments services have been achieved, largely due to extensive branches and access points (particularly a vast network of rural cash withdrawal points), innovations by non-bank payment providers, and expansion of government-to-person transfers and bankcard programs. Account penetration in China is quite high, with estimates ranging from over 80 to 90 percent, which compares well to the EAP regional average but is lower than the high-income country average. The rapid growth in fintech has led to millions of previously underserved mass retail consumers accessing lower cost and better tailored financial products and services.
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