Tech Investments of Chinese Banks Rose 20% in 2020


Chinese banks and insurers gave a major boost to their tech investments in 2020 despite the economic impacts of the COVID-19 pandemic.

Chinese banking sector financial institutions made tech investments of 207.8 billion yuan (approx. USD$32.11) in 2020, for an increase of 20% compared to the previous year, according to data made public by the China Banking and Insurance Regulatory Commission (CBIRC) at a press conference held on 2 March.

Insurance sector institutions made total tech investments of 35.1 billion yuan, for a YoY rise of 27%