IT investment by Chinese banks surged by more than 20% in 2020 despite the adverse impacts of the COVID-19 pandemic.
In 2020 Chinese banking sector financial institutions made a total of 207.8 billion yuan in IT investments for a YoY rise of 20%, according to data from the “Banking Sector Digital Transformation Investment Effectiveness Assessment Research Report” (银行业数字化转型投入有效性评价研究报告).
These investments accounted for nearly 3% of banking sector operating revenues in China.
