Service of Postal Savings and Remittance

In the year of 2000, services of postal savings and remittance advanced steadily. Till the end of 2000, the balance of postal savings was 457.89 billion Yuan RMB, a net increase of 76.1 billion Yuan RMB with an amplitude of 20%, the net increase occupied 15.3% market share. The balance of postal savings occupied 7.1% market share, 0.7% more than that in the beginning of 1999. Uniform deposit and withdrawal for current deposit in different places reached 62.03 billion Yuan RMB with an increase of 5.2%. The number of deals of this business was 9.98 million.

Service of postal remittance advanced steadily. Domestic postal money orders in 2000 reached 22.6 million pieces. Sum of remittance received 293.38 billion Yuan RMB, internationally, export postal money orders were 663 pieces with a sum of 198 thousand US Dollars and import postal money orders were 433,443 pieces with a sum of 32,699 thousand US Dollars.

In 2000, agent service made great achievement. In this year, agent insurance service and pension payment service developed across the country. Insurance premium collected on a commission basis was 0.62 billion Yuan RMB and our postal income was 50,000 thousand Yuan RMB; sum of pension payment on a commission basis was 15 billion Yuan RMB occupying 12% of the market share which listed among the best social institutes. Strength was also put on the sales of certificate was 5.6 billion Yuan RMB.

In 2000, income of postal savings reached 12.35 billion Yuan RMB and remittance 1.83 billion Yuan RMB. Income of postal savings occupied 33.4% of the postal income.

In 2000, taking 2/3 postal savings outlets in the countryside into account, China Post strengthened the development of postal savings in the rural areas through the construction of infrastructure of the outlets, increase of the level of computerization, adjustment of some less beneficial outlets based on improvement of management. The evident effect of these measures were seen within the year: among the 76.1 billion Yuan RMB increased net balance, the rural areas occupied 42.73% and cities and counties occupied 34.11%.

To the intermediate services, more and more post offices and agents established postal insurance agent service and pension payment. State bond issue sold on a commission basis increased 166% than that in 1999.