As related, ICBC electronic banking in 2010 recorded a year-on-year rise of nearly 40% in turnover to over RMB 200 trillion as of the end of November. Behind the fast growth of the turnover is the acceptance and recognition from all on the gaining popularity of ICBC electronic banking. Currently ICBC is way ahead of domestic peers by securing 94 million personal internet banking customers and 2.4 million corporate internet banking customers. Every day ICBC electronic banking processes over 50% of total transactions in ICBC, to 58.2%, tantamount to another ICBC built on a virtual channel.

Cai Dong, Head of ICBC Electronic Banking said, rapid growth of electronic banking changes ICBC's business model which is based on traditional counter services. Transactions via electronic banking every day surpass total transactions processed by all ICBC outlets. Electronic banking diversifies large number of counter transactions and relieves the pressure on counter services. It eases the conflict between fast business growth and inadequate number of physical outlets.
 
Electronic banking, besides a service channel with special advantages, is also a catalyst for many new products and service models, said Cai Dong. Electronic banking enables ICBC to change its product offering, customer portfolio and income structure, and scales up business development and benefits. Each year, ICBC launches tens of new products backed by its best-in-class IT system and strong research capability. Besides moving many counter products to online, ICBC develops a large number of special products designed for online delivery and creates many "first" - first to launch corporate internet banking, first to launch 95588 Telephone Banking, first to launch USB-Shield and code card. ICBC electronic banking products are nearly half of the total in terms of number. Today, ICBC electronic banking offers the widest range of products among the domestic peers. Electronic banking is not restricted by time and space as improvement and enhancement on the functions and security continue. Customers get to understand the non-stop, cross-regional, wide geographical coverage of electronic banking. More and more customers are attracted by the safe and convenient online services. Electronic banking is becoming an important means of ICBC to win new customers and retain old customers. In particular, electronic banking goes with the lifestyle in the Internet Age. It attracts a large group of new-generation customers of good growth potential and boosts optimal customer portfolio.

Looking ahead the progress of ICBC's electronic banking business, Cai Dong believed that there is still a lot of room to grow in this market. Electronic banking is paperless, low cost and highly efficient. Modern financial services are heading to "green" financial services - online, save energy, eco-friendly. To ICBC, electronic banking plays a significant role to boost the Bank's competitive edge and business transformation. ICBC will continue the innovation effort in products and services in a bid to increase customer service experience, Cai Dong said. In terms of development strategy, ICBC will elevate electronic banking to many areas. Electronic banking business will be extended into asset business from current focus on liability and intermediary business. The aim is to combine these three business areas together. Meanwhile, ICBC's electronic banking is prepared to "go global" to increase the share of electronic banking services in overseas subsidiaries. At present, ICBC's internet banking has 8 language versions (English, Japanese, German and others). In the pipeline is an across-country Telephone Banking Center offering services for different countries in order to better serve the overseas customers.