Some 373 million rural Chinese residents made payments by mobile banking apps in 2016, an increase of 35 percent, according to central bank data. Transactions totaled 23.4 trillion yuan ($3.4 trillion), up 71 percent. The number of transactions jumped by 62 percent to 5.1 billion, according to the People’s Bank of China (PBOC)…Full Article: Mar 2017

Key Point

  • In China, approximately 126,700 bank branches are located in rural areas (~1.4 branches per 10,000 rural residents, including 3.8 ATM machines per 10,000 rural residents.

ChinaAg Comments

  • From 2011 to 2015, China’s rural population declined from 664 million to 608 million.
  • China’s rural population hit its peak in 1991 at 836 million, which comprised 73% of China’s total population. From 1992 to 2000, the country’s average rural population slowly declined at less than 1% annually. From 2001 to 2008, this decline jumped to 1-2% annually, and averaged over 2% per year from 2009 to 2011.

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