Tech Investment by Chinese Banks Surges 20% in 2020

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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.

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