China reports surge of Internet banking transactions

The number of personal Internet banking users in China hit 909 million at the end of 2014, up 150 million compared to a year before, the latest data showed.

The increase in users led to a surge of Internet transactions totalling 60.85 billion in 2014, up 22 percent year on year, according to data released on Wednesday by the China Banking Association.

With more people using the Internet and ATMs, 67.88 percent of transactions were conducted off the counter, up 4.65 percentage points from a year ago, the data showed.

Banks expanded coverage by adding nearly 6,800 service outlets across the country last year, bringing the total to 217,100, the data showed.