Monthly unique devices of mobile banking reached 326 million units in China, an increase of 10.9% year-on-year. China Construction Bank led this market with 74 million units monthly unique devices. Roughly 80% of users only installed one comprehensive financial management app.

Market penetration of mobile banking was 24.2% in December 2018, with monthly unique devices totaling 326 million units. This market has started its rapid expansion since April 2017 with a net increase of 100 million users within 8 months.

Nevertheless, in the context of strengthened financial supervision as well as more fierce competition from emerging internet giants like WeChat, Alipay, and vertical financial management platforms, its rapid growth pace somehow slowed down.

Overall, it added around 26 million new users in 2018. In the next stage, getting more users engaged by improving user experience and enriching usage scenarios might be the core for growth.

Users have shown a tendency to install more than one mobile banking app. Of the top 10 mobile banking apps, China Construction Bank was way ahead with 74 million units monthly unique devices. Postal Savings Bank of China saw the fastest growth of 57.7%.

Roughly 80% of users only installed one comprehensive financial management app on their smartphones. JD Finance, the finance arm of JD.com, rose abruptly (up 42.8% annually) to be the most popular one with  25 monthly unique devices.

Xiaomi Finance ranked second with 7 million monthly unique devices, an increase of 32.2% year-on-year. The 31-40-year-olds who have already accumulated certain assets represented over 50% of total users.

Online P2P credit loan platforms had narrowed its user reach. The market penetration kept at around 1.1%. 70% of users only installed one app.

The proportion of users installing more than 4 apps declined to 2.7% in December 2018 from 5.9% the prior year period. More than 70% of users were under 36 years of age. Roughly 70% of users lived at first- and second-tier cities.

China’s post-90s start personal finance management 10 years earlier than their parents

According to recently published report by Analysys, “China Online Banking Quarterly Forecast Report for 2017 Q3”, the total online banking transactions amounted to 48.15 billion, reflecting a 4.3% decrease when compared to the same quarter previous year.

The decrease includes a decline in personal online banking. Corporate banking activities have been comparatively active, with corporates doing bank transfers, salary disbursements, tax payments and other transactions, thus leading to a steady growth within the corporate online banking sector.

For Q3 of 2017, ICBC, China Construction Bank, Bank of Communications and Bank of China are the respective top 4 performing banks in the market, occupying a total of 62.4% of the market share. CMBC ranks 5^th placing with 7.3% of market share.

From the perspective of product innovation, SPD Bank has especially come up with an online cloud system, an integrated platform called “e企行” to resolve the pain points faced by small and medium-sized businesses during its growth phase. The online platform provides access via both PC and mobile apps, providing a low-cost, efficient and smart user experience for businesses.

On the other hand, CGB has released a new generation of verification tool for internet banking – Bluetooth Key token which can be accessed via USB on PC and also connect to mobile phones via Bluetooth. The initiative by CGB satisfies the needs of the customers for a safe yet fuss-free way for verification.

Whereas from the angle of marketing activities, the focus of marketing activities is to boost activities, hence the marketing campaign will be attractive as long as customers qualify for lucky draws or other benefits when they perform a specific online banking transaction.

The spending power of 250 million Chinese post-95s

Online banking in China has suffered badly at the hands of online and mobile payment providers over the past few years. In the second quarter of this year, transaction volumes fell for the first time ever.

After several quarters of lackluster growth, the total value of online banking transactions in China dropped by 6.8% in Q2 2017 to 503.1 trillion yuan (US$76.34 trillion).

Despite banks’ introduction of new services to their online platforms, they have proven unable to compete with the flexibility and utility of online and mobile payment services and have steadily lost market share. One bright spot for banks has been business services, which have grown steadily despite the intrusion of third-party payment providers.

Within this market, ICBC remains the market leader, accounting for 28.5% of all transactions by value, followed by CCB at 14.9% and Bank of Communications at 11.2%. ICBC is a leader in business services and has innovated in the retail banking sector with the introduction of an AI customer service interface to maintain its lead even as the market as a whole suffers.

Monthly active users of WeChat reached 762 million as of March in 2016 and has become a major platform for social communication.

Many brands have signed up WeChat official accounts to make it a channel to communicate with target audience according to a report from Lvyouquan. The report covered 8,006 brands and 294,176 official account posts in 18 industries published in Q3 2015.

80% official accounts published posts on working days. 36% posts are published on Wednesday and Friday. Over 40% official accounts published posts between 4pm and 7pm to attract readers who would skim through WeChat in buses or subways after coming off work at 6pm or 7pm .

The number of average post views on Friday were 3,449 among 294,176 posts according to the survey. Many users were likely to read articles after getting up between 6am and 7am, the peak time for news reading. After coming off work, 7pm to 8pm was also the reading rush hour.

Among the 18 industries surveyed, over half of the brands in network operators, e-commerce, air flight, automobile, apparel, gaming and smartphone industry had WeChat official accounts. Over 80% of operator brands utilized official accounts to cultivate consumers and potential customers.

Most official accounts released less than 10 articles in each month. Brands official accounts in the health care industry, supermarkets, insurance and automobile updated content most frequently. 60.79% health care brands released an average of 20 to 31 passages in each month while the quality index was the lowest. Official accounts of catering, gaming and banking had the highest quality index.

Xiaomi received the highest quality index among the smartphones official accounts, followed by Vivo and Huawei. Seven of the top eight high-quality smartphones official accounts were domestic brands.

Among the top 10 banking WeChat official accounts, seven were credit card accounts. Xiaomi put much effort in media and marketing every year that it received the highest quality index.

64.71% automobile brands had official accounts while the quality index was only 450. SVW, Volvo China, and Buick were top three accounts with the highest quality index.

Over 57.37% gaming brands had official accounts and the quality index was fairly high. 29% content from gaming official accounts were on gaming gift packs while readers were more likely to read articles on gaming announcement compared to gaming gift packs.

Smartphone industry official accounts published 37% posts on product publicity and 19% on promotion information. They also released content on chicken soup while few readers were interested in those.

Influenced by the third-party payment methods, banks have searched new means for more consumers. 36% content on banking official accounts were on promotion, 23% on the brand news, and 5% on chicken soup. However, the average views of promotion and chicken soup articles were higher.

Over half of automobile brands passages were on the brand news and product publicity, 15% on promotion, and 8% on automobile knowledge. However, automotive official accounts should publish more articles on promotion for readers prefer reading posts on promotion.

Companies are not the same in industry, size, resources, background and others. Thus brands must make full use of their own resources and publish posts basing on readers preference and reading habits. And  companies should adjust content and publish time of official accounts to improve quality index and improve the brand awareness.

Also read: The Value of WeChat Official Accounts

China’s online banking transaction values reached 510 trillion yuan (US$78.24 trillion) with an increase of 17.6% QoQ in Q4 2015 according to Analysys. The increase was mainly due to the improvement of online banking services and promotion of online shopping business.

Chinese online banking transaction saw rapid growth in the fourth quarter of 2015. The online financing service, online loan service, comprehensive financial services, enterprise online banking services, and others intensified the business of online banking market in China in Q4 2015. And, the busy online shopping transactions driven by Double 11, Christmas Day, Double 11, New Year’s Day and so on greatly increased the online banking payment.

China Industrial & Commercial Bank (28.4%), China Construction Bank (12.7%), Bank of Communication (10.9%), Agricultural Bank of China (10.3%), and Bank of China (7.4%) led China’s online banking market in Q4 2015.

Enterprise online banking service was regarded as the focus for banks to generate more transactions. Many online banks have concentrated on the enterprise demands from the increase of transaction values in the third and fourth quarter of 2015.

Also read: China E-Payment Insights 2015

China’s mobile internet maintained a solid development in the third quarter this year, and the basic pattern of China’s mobile internet remained unchanged compared to the first half-year of 2015 according to TrustData.

Apple still took the first position in China’s smartphone market with a penetration rate of 33.4%. Xiaomi overcame Samsung as the second-largest smartphone brand and the largest smartphone vendor in China.

After China’s three telecommunication companies went through swaps of senior executives in this quarter, China Mobile declined in the market by 1.1 percentage points lower compared to the first two-quarters this year while China Unicom and China Telecom increased to various degrees.

Users accessing the internet through 4G network exceeded 3G and 2G in Q3 2015 in China representing a penetration rate of 16.2%. Over half of mobile phone users were the most likely to access the internet by Wi-Fi. Public places offering free Wi-Fi really helped to attract customers, especially for restaurants, hotels, KTV, and so on.

More Chinese were willing to spend time on mobile apps that 16.4% opened more than 16 apps every day compared to 12.4% in the first half this year.

Among the top 20 mobile apps by monthly average users, nine apps were from Tencent. WeChat exceeded QQ in monthly active users among the top 20 mobile apps as of September this year.

WeChat and QQ undoubtedly led China’s social communication platforms. Baidu Post Bar, as a place gathering like-minded people, also gained millions of advocates.

Depending on hot IP dramas and variety shows iQIYI pulled up to Tencent Video and tied for first place in monthly active users in this quarter while users spend more time on iQIYI compared to Tencent Video.

Major mobile video market maintained the same in the first four apps while Nokia X Video player ranked the fifth by monthly active users much out of expectation.

Similar with mobile video market, mobile news market had a relatively big change from the fifth to tenth music apps by monthly active users. The overall usage time of news apps increased compared to the last two-quarters.

A stable pattern of China’s mobile travel market was basically formed that Qunar, Ctrip and LY shared the market. The total number of China’s tourists was estimated to exceed 4.1 billion person trips in 2015 and reached a total revenue of 3840 trillion yuan (US$617.40 billion) according to China Tourism Academy, among which online travel platforms and mobile apps benefited a lot in ticket booking, hotel reservation and travel products.

Influenced by the rush of Alipay, Huabei, JD Baitiao and other online payment and internet financing products, banks in China released relevant profitable policies to enhance transactions and active users. Top 20 online banking apps showed small changes in this quarter.

Taobao’s dominance maintained relying on 386 million of annual active buyers and 346 million of mobile active buyers. Meituan Group-buying, Jingdong, and Dianping followed while after emerging between Meituan and Dianping their market share might increase in the next quarter.

About 35% China’s online shoppers purchased cross-border products this year, and cross-border online shoppers mainly gathered in Beijing, Shanghai, Guangzhou… which was a function of city development level and citizens revenues. Although cross-border online shopping tended to be normalized by uplift of logistics, consumers’ rights and interests couldn’t be safeguarded timely and properly owing to long distance. The uppermost three cross-border apps were Daling, Red, and Kaolahaigou by monthly active users.

Meituan, Dianping, and Nuomi ran China’s mobile group-buying market in this quarter, and Ele, Meituan, and Baidu Waimai competed for the first position in the food-delivery market. After large input of allowance to attract users in regardless of prime cost, the food-delivery market would go depressed or prosperous still under mists.

Also read: China’s Mobile Search Market Insights in Q3 2015

In 2014, China’s online shopping users reached 55.7% of the total internet users. In the mean time, mobile online shopping market was booming in China, with an annual growth rate of 63.5%, 3.2 times higher than the overall online shopping market.

The booming of the mobile shopping market accelerated the strategic layout of companies. The configuration of Chinese online shopping market remain steady. Taobao, Tmall and Jingdong led the market with penetration rates of 87.0%, 69.7% and 45.3% respectively. After being listed on the market, Jumei, Jingdong, Alibaba would broaden their business across the world.

According to China Internet Information Center (CNNIC), about 361.42 million Chinese shopped online in 2014, compared with 301.89 million in 2013. Mobile shopping users increased to 236.09 million, 55.7% of the total.

Almost one-third online shoppers were in the eastern region of China, followed by the southern (18.5%) and northeastern (16.7%). Users in the northwestern were the lowest.

China’s online shopping market  are more versatile compared with some western countries. China online users could buy both real and virtual goods online, some of which are even beyond many westerners’ imaginations. Clothes, computer and digital accessories, virtual cards and household appliance were main categories of online shopping in China.

Based on shopping frequency and expenditure, China online shoppers could be divided into two groups, generic shoppers and frequent shoppers.

Very frequent online shoppers in China spent more than generic shoppers. The average expenditure in half year of 2014 by frequent shoppers reached 12,610 yuan (US$1,976.78), almost five times of 2,687 yuan (US$421.22) by the generic online shoppers.

The omnipotent online shopping contributed 2,789.80 billion yuan (US$437.53 billion) to the total online retail, an increase of 49.7% compared with the same period last year, which was equal to 10.6% of China’s social consumer goods retail. China (US$41,151.50 billion) was the largest online shopping market in 2014, followed by the United States (US$3,056.50 billion).

Featured as online shopping market, the displayed information couldn’t show realistic meaning and value of products; thus product reputation, business or company’s fame, together with price were top three influencing factors from the view of consumers. Delivery time was also one of the purchase decision factors.

Affected by household income level, 11.6% showed they were willing sacrifice quality in shopping online, and 51% would consider quality and price both.

Payment channels for online shopping were diversified in China. Third party payment(eg.Alipay) was the mainstream channel, with penetration rate as high as 82.9%, and followed by online banking payment and quick payment.

The Chinese government published corresponding regulations to protect consumers’ rights and interests, one of which with a large impact was the ‘7-day refund; no question asked’. 30% online shoppers once refunded goods, and 75% resolved the refund successfully.

Invoice consciousness was not so strong in Chinese minds. During online shopping, only 11.9% asked for invoices each time, and 58.1% haven’t asked for any.

Online shopping for overseas goods gradually became a common practice of Chinese online shoppers. In 2014, only 4.8% admitted shopping for overseas goods; however, with many B2C companies realizing the potential, the group will grow in the future.

Clothes were first choices of 45.5% Chinese online shoppers shopping overseas. America, South Korea, and Japan were the hottest shopping destinations. The average order price of cross-border shoppers was higher than the overall online shopping. In 2014, the annual average spned of online cross-border shoppers was 4989 yuan (US$782.10), 64.1% of the overall.

66.4% users chose to purchase overseas goods online due to the high quality in some foreign countries, and half due to lower prices. However, online shoppers sometimes faced problems such as long delivery time, damaged or loss of goods, hard to check and unable to refund or return.

Social e-business wasn’t a new concept in China. As early as 2011, Chinese companies began the exploration in the social network and online shopping market. According to the research by CNNIC, online shoppers accounted for 70.6% of WeChat users, 55.2% of QQ users, and 36.5% of Sina Weibo users, which had a tremendous potential.

About 46.6% social networking users showed tolerance towards advertisements and marketing in social media. 27.8% users once forwarded messages and information of these websites, and 33.8% finally made orders following the promotion information.

China’s social media shopping had good genes and soil, with the continuous development of e-business market and acceleration of major companies, the proportion of this group and online overseas shoppers could be significantly increased.

Also read: China E-Payment Insights 2015

iResearch released a report on Chinese electronic payment users in 2015, which shows data of China e-payment and its users.

In 2014, male users of China e-payment account for up to 57.3%, while female users only account for 42.7%. The male ratio of online banking, mobile banking and WeChat banking account for more than half of the overall male proportion of electronic payments. While in the third-party online payment, third-party mobile payment, POS machine payments and prepaid cards payment, the ratio of female users is relatively high.

The ratios of China e-payment users and overall internet users are basically the same by ages. Users from 26 to 35 years old are the biggest age group, accounting for 50%. The penetration rate of online banking users increases with higher age groups; users above 36 years old are the biggest age group. At present, the penetration rate of mobile payment is higher, while in the future the situation may change.

The ratios of China e-payment users and overall internet users are basically the same by education background. While the ratio of penetration tends to be higher among users with higher education background.

According to iResearch, male users of China’s electronic payment prefer to use electronic banking channels (online banking, mobile banking and WeChat banking), while Chinese women are more likely to use tools offered by third-party payments. In 2014, users of third-party internet payment account for over 60% of the overall payment users, then third-party mobile payment and online banking follow, with each accounting for about 50%.

Male users prefer electronic payment instruments offered by banks such as online banking (5.4% higher than female), mobile banking (relatively 2.0% higher than the female). While female users relatively prefer payment channels offered by third-party payments, such as third party internet payments (relatively 1.6% higher than the male), third-party mobile payments (2.6% higher than male).

iResearch believes that the reason the third-party payment and online banking users are more than POS machine payment users is that, electronic payment channels have less connections with the development level of local areas, the popularity of smart clients, and the internet also makes the payment of internet users migrate with electronic channels.

Users use a third-party payment gateways once or twice a week, and spend about 500 yuan per month. The average consumption is about RMB 100.

Several factors affect users acceptance of online payment, which are the brand of the company, security level, convenience level, price, and function. High security is the key factor users consider when they make payments online.

In 2014, China online banking users prefer to use online banking on ICBC, and over 50% of users have used China Construction Bank, Agricultural Bank of China and other five banks. The top several online banking users use more often is ICBC (25.6%), China Construction Bank (17.5%) and Agricultural Bank of China (11.4%).

Mobile payment products are more diversified compared with online banking. China mobile banking users prefer to use online banking on ICBC (41.0%), and China Construction Bank (38.9%). The top several online banking that users use more often are ICBC (18.8%), China Construction Bank (17.9%) and Commercial Bank of China (12.2%).

Apart from these common payment means, internet users also make payment through WeChat banking. China WeChat banking users prefer to use WeChat banking on ICBC (37.9%), China Construction Bank (34%) and China Commercial Bank (28.1%). The top several WeChat banking that users use more often is ICBC (18.4%), China Construction Bank (15.9%) and Commercial Bank of China (15.2%).

In 2014, China third party internet payment users use Alipay most frequently, with a usage of 94%, followed by China UnionPay (CUP) online (36.6%), Tenpay (36.3%) and 99Bill (33.1%). 87.6% of the users choose Alipay as the most preferred third-party internet payment product; and CUP online ranks second with only 2.9%.

In 2014, people use Alipay more often than WeChat payment. Most WeChat payment users are new to it, and many of them are used to pay by Aipay. While Tencent still has a chance to have a promising future on the mobile payment market with its huge QQ and WeChat user base.

Also read: China Advertising Insights 2015

In Q1 2015, China UnionPay’s total transaction value exceeded USD$1.9 trillion globally according to the latest data, which also means China UnionPay surpassed VISA for the first time in transaction value, becoming the biggest card liquidation organization in the world. According to the financial report of VISA, the total transaction value of VISA was USD$1.75 trillion in Q1 2015.

Besides, in terms of the number of issued cards by China UnionPay, it has already surpassed VISA, becoming the biggest international bank organization by total number of issued cards and transaction value in Q1 2015.

At present, China UnionPay card can be used in 150 foreign countries and regions with over 26 million merchants and 1.8 million ATMs all over the world. China UnionPay issued 5 billion cards in 40 foreign countries.

In 2014, China UnionPay debit card and credit card’s total transaction volume increased by 52.3%. Further, it is still keeping rapid development in transaction volume.

Also read: E-banking Replacing Over 80% of China’s Banking Transactions

On 12 February 2015, People’s Bank of China announced China’s Payment Market Report 2014. The report showed in 2014, the total transaction volume and value of non-cash business were 62.752 billion and RMB1,817.38 trillion (US$294.70 trillion) with YoY growth rate of 25.11% and 13.05% respectively.

Among all the transactions, e-payment business is still keeping rapid growth as well as mobile payment. In 2014, total transaction volume of e-payment was 33.333 billion, worth RMB1,404.65 trillion(US$227.78 trillion) in China. Besides, the transaction volume and value of e-payment increased by 29.28% and 30.65% from the same period of prior year.

The transaction volume and value of mobile payment were 4.524 billion and RMB22.59 trillion (US$3.66 trillion) with YoY growth rate of 170.25% and 134.30% respectively in 2014 in China.

In 2014, total transaction volume of online payment from payment agencies was 37.422 billion, worth RMB24.72 trillion (US$4.00 trillion) in China.

Also read: Insights of China Mobile Payment (Wechat, Alipay) Users

In 2013, transaction volume of China commercial banks exceeded 124.54 billion with e-banking replacement rate of 79%. China commercial banks are now focusing on mobile payment and it is estimated that they will be transformed into the mechanism based on e-bank online payment, assisted by phone payment, self-service terminal, WeChat payment banks and various e-channels in the future.

iResearch estimates that in 2014, total transaction volume of China commercial banks will be 142.31 billion with e-banking replacement rate of 80.3%.  It is believed that e-banking service satisfies much need for users and with internet’s rapid development and users are more dependent on e-banking. However, the high replacement rate indicates China commercial banks need to adjust their e-banking business.

China online banking transaction value reached RMB930.2 trillion (US$151.25 trillion) with an increase of 24.6% in 2013. China online banking market will still keep rapid development while its growth will slow down.

In 2013, China major commercial banks’ e-banking relacement rate of transactions had increased from 2012. The top 3 commercial banks were Minsheng Bank, China Citic Bank and China Merchants Bank with e-banking replacing rate of transactions of 94.3%, 92.8% and 92.5% respectively.

In 2013, China mobile banking users exceeded 460 million with an increase of 55.5% YoY, and the gap from the scale of total mobile internet users narrowed. iResearch believed that in 2017, the number of mobile banking users will be over 700 million.

In 2013, total transaction value of China mobile banking market was RMB12.7 trillion (US$2.06 trillion) with an increase of 248.1% YoY. The high growth of mobile banking service will maintain for 3 more years and in 2017, the number of transaction value will be over RMB110 trillion (US$17.88 trillion).

In 2014, personal online banking users, mobile banking users, mobile phone banking users and Wechat banking users accounted for 35.6%, 17.8%, 12.9% and 6.8% respectively.

There are 3 reasons for rapid development of China mobile banking market:

1. The large number of China mobile banking users stimulated the overwhelming growth of transactions on mobile
2. Various China banks had promotions on mobile banking service which drive users’ engagement
3. Using mobile banking service is now a habit among many bank users in China

As of Dec 2013, WeChat active users exceeded 360 million with an increase of 120.8% from the same period of prior year. It is estimated that as end of 2014, Wechat users will be over 590 million.

Top 3 WeChat payment banks that WeChat users used most were China Merchants Bnak, ICBC and CCB in China in 2013. Generic banking inquiry service was the major feature for China WeChat users, representing 47.1%, followed by capital trading and service for convenience.

In 2013, China finance industry advertisers increased ad spend on bank card and other investment service while reducing ad spend on other services. Ad spend on fund investment decreased the most with rate of 38.9%, followed by banking service (18.2%) and security service (18.1%).

In 2013, top 3 service by ad spend were banking service, insurance service and other investment service. While in Oct 2014, China Construction Bank spent RMB16.37 million ($2.67 million) in online advertising, the biggest advertiser in online display ads (excluding text link ads and some targeted ads), followed by China Industrial & Commercial Bank, Bank of Communication.

Also read: Insights of China Mobile Payment (Wechat, Alipay) Users

In October 2014, total online display advertising spend of banking service brands exceeded RMB58.29 million (US$9.15 million) in China.

Among all the banking service brands, China Construction Bank spent RMB16.37 million ($2.67 million) in online advertising in October, the biggest advertiser in online display ads (excluding text link ads and some targeted ads), followed by China Industrial & Commercial Bank, Bank of Communication according to data from iResearch.

Web portal,finance website and online news platforms are the top three ad placement channels for banking service companies in China in October 2014. The advertising spend on web portals exceeded RMB37.31 million (US$6.09 million), accounting for 64% of the total spend, followed by online video (11.3%) and finance website (10.3%).

Also read: China Mobile Banking Users Increased by 50% YoY in 2014

China e-banking service is developing rapidly, especially mobile banking service. In 2014, mobile banking users increased by 50% from the same period of prior year. However, online banking still dominates the e-banking service in terms of safety. 72% e-banking users consider online banking the safest according to China Financial Certification Authority (CFCA).

China total number of e-banking transactions from commercial banks exceeded 125.54 billion in 2013 according to iResearch data. Nearly half e-Banking users use mobile banking service in China now.

In 2014, personal online banking users, mobile banking users, mobile phone banking users and Wechat banking users accounted for 35.6%, 17.8%, 12.9% and 6.8% respectively. The latest data of CFCA shows in 2015, personal mobile banking service will be booming and users is expected to account for 24%; besides, 40% of them will buy financial products via mobile banks.

The functions that major personal mobile banking users favor are account enquiry, money transfer, mobile phone payment and other non-financial service, such as mobile phone top-up, movie tickets and lottery tickets payment. Related : China Top 10 Banking Service Brands by Online Ad Spend in Sep 2014 

Mobile payment is growing more and more popular as mobile internet and e-commerce developed. Alipay, the largest mobile payment platform in the world, and Wechat payment are now most popular among China mobile payment users. See their difference here.

Also read: China Top 4 Online Payment Mobile Apps

In September 2014, total online display advertising spend of banking service brands exceeded RMB88.61 million (US$14.42 million) in China.

Among all the banking service brands, China Construction Bank spent RMB21.83 million ($3.55 million) in online advertising in September, the biggest advertiser in online display ads (excluding text link ads and some targeted ads), followed by China Industrial & Commercial Bank, Bank of Communication according to data from iResearch.

Related: China Top 10 Banking Service Brands by Online Ad Spend in July 2014

Web portal,finance website and online news platforms are the top three ad placement channels for banking service companies in China in September 2014. The advertising spend on web portals exceeded RMB58.79 million (US$9.57 million), accounting for 66.3% of the total spend, followed by online video (8.9%) and finance website (8%).

Also read: Yu’E Bao Grew to 149M Users in Q3 2014