China's banking industry will do all its best to ensure ample cash supply and financial services in the earthquake-stricken area, the People's Bank of China said.
The central bank held an urgent meeting to make sure that all its branches and related entities will take all means to see that the financial payment system is working properly in the area hit by the 7.8-magnitude earthquake in Sichuan Province, it said on its Website yesterday.
The central bank also said it will boost cash flow to the disaster-hit area.
Meanwhile, the China Banking Regulatory Commission held a meeting yesterday to encourage the banking industry support the disaster area as a top priority.
The banking regulator urged lenders to resume financial services as soon as possible. Banks are also asked to operate as usual to enable people there to withdraw cash and get other financial services.
Industrial & Commercial Bank of China, the biggest lender in China with its vast network, yesterday sent a relief delegation led by President Yang Kaisheng and Vice President Zhang Furong.
The Beijing-based bank will give credit to industries hit by the earthquake including the telecommunications and railway sectors and also will ensure a supply of capital so that clients can get money.
The bank also launch an online donation services on its e-banking system, and has donated 12 million yuan (US$1.71 million).
Bank of Communications donated 12 million yuan. Bank of Shanghai donated 2 million yuan, Bank of China donated 10 million yuan, Agricultural Bank of China gave 15 million yuan and China Merchants Bank offered 8 million yuan to help.
China UnionPay, the country's sole bank card system operator, said the trans-bank payment settlement system in the province and Chongqing is operating normally. It donated 2 million yuan.
(Shanghai Daily May 14, 2008)
