The opening-up of the domestic postal e-remittance service has witnessed the acceptance of the market with the whole system operating smoothly. The volume of the whole year accumulated 210 million transactions with the amount of the remittance up to 250 billion yuan and the turnover up to 1.694 billion yuan. Regarding the international remittance service, the Western Union International Money Order service has developed rapidly with the total volume up to 117 thousand transactions, valuing 190 million yuan. The normal international remittance service has gained a stable advancement with the volume up to 63 thousand and the amount reaching US$ 43.65 million.

The year of 2002 has witnessed the booming of the commissioned insurance service with the accumulated insurance premium up to 5.8 billion yuan, up 389% over last year; The commissioned pension and state bond sale services also presented a sound development trend with the turnover increasing stably. In 2002, the state bond sales value reached 2.4 billion yuan and the commissioned pension service enjoyed a continuous development. The revenue of the total commissioned service reached 430 million yuan, among which 150 million yuan came from the pension service.

In 2002, the postal savings network was further expanded with the deposit and withdrawal under current accounts service fulfilled in 99% of the counties nationwide at 28,000 online post offices or through 5357 ATMs. The postal savings green cards have been issued at the number of 34.67 million pieces. Postal savings and withdrawing at different places have also witnessed a fast growth, handling 24.76 million transactions, up 83% over last year, valued 163.1 billion yuan, up 91%.

The postal savings departments has taken an active part in the the National Golden Card Project to standardize the alliance with other banks. On January 10, 2002, the postal savings departments distributed the new Yinlian cards to the customers and initiated cross-banks transaction services in Beijing, Shanghai, Guangzhou, Shenzhen and Hangzhou with other commercial banks like the Industrial and Commercial Bank, the Agricultural Bank, China Bank, the Construction Bank, the Communications Bank, etc. The postal savings has built itself as a forerunner to issue Yinlian cards and provide cross-bank card trade at different places.

We have furthered the construction of the e-remittance project and expanded the online points to 17,000, 38% of the total points. We have basically built up a stable, safe and open postal e-remittance system, in which the main frame was able to handle 30,000 transactions per hour with each transaction finished within 5 seconds at the counter. Since January 2002, we have gradually utilized the e-remittance system to handle postal money orders and optimized the technological and operational functions of the software. We have abandoned the physical delivery of money orders nationwide little by little and replaced the old remittance system successfully. China Post has also designed and publicized special software for big customers and opened up Two-hour Express Remittance service in the fourth quarter, providing improved, considerate and diversified services to the customers.