# Postal Savings Bank of China (PSBC)

> Source: https://docs.barcoder.ai/docs/wallets/psbc
> research date 2026-05-30 · extracted at 2026-10-07
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [PSBC — official](https://www.psbc.com/)

## Overview

**Postal Savings Bank of China (PSBC)** is **Chinese Big-6 state-owned commercial bank** + **China Post Group Corp majority controlling** + **390M mobile users early 2025** + **96% standard transactions migrated to digital channels** + **nearly 40,000 business outlets covering 99% of China's counties** <sup>[1][1], [2][2], [China report](https://docs.barcoder.ai/docs/payments/CN)</sup>. **2025 baseline**: PSBC 390M mobile users early 2025 + 96% standard transactions migrated to digital channels + mobile banking app v10.0 primary sales engine + nearly 40,000 business outlets covering 99% of China's counties through a dual-track model of direct and agency outlets; **PSBC Integrated Retail Transformation distinctive Chinese rural + low income banking digital strategy**; **Mobile banking app v10.0 featuring interfaces for rural users and seniors** distinctive Chinese state bank rural digital inclusion.

**Distinctive PSBC positioning**:
- **Chinese Big-6 state-owned commercial bank** (Postal Savings Bank of China Co Ltd; HKEX: 1658; SSE: 601658)
- **China Post Group Corp majority controlling** distinctive Chinese state-owned bank China Post heritage
- **390M mobile users early 2025** distinctive Chinese state bank mobile banking penetration
- **96% standard transactions migrated to digital channels** distinctive Chinese state bank digital channel migration
- **Mobile banking app v10.0 primary sales engine** distinctive Chinese state bank mobile-first sales channel
- **Nearly 40,000 business outlets covering 99% of China's counties through a dual-track model of direct and agency outlets** distinctive Chinese state bank rural banking penetration
- **PSBC Integrated Retail Transformation distinctive Chinese rural + low income banking digital strategy**
- **Mobile banking app v10.0 featuring interfaces for rural users and seniors** distinctive Chinese state bank rural digital inclusion
- **PSBC to Absorb Direct Banking Unit, Cutting Costs as Mobile Banking Grows** distinctive Chinese state bank digital consolidation

## History

**1919 — Postal savings services launched in China** as Chinese postal savings heritage.

**Mar 20 2007 — Postal Savings Bank of China founded** as Chinese state-owned commercial bank by separating postal savings business from China Post.

**Sep 28 2016 — PSBC IPO on HKEX (Hong Kong Stock Exchange) under ticker 1658** distinctive Chinese state-owned bank Hong Kong listing.

**Dec 10 2019 — PSBC SSE (Shanghai Stock Exchange) IPO under ticker 601658** distinctive Chinese state-owned bank Shanghai dual-listing.

**Early 2025 — PSBC 390M mobile users + 96% standard transactions migrated to digital channels + mobile banking app v10.0 primary sales engine + nearly 40,000 business outlets covering 99% of China's counties through a dual-track model of direct and agency outlets** <sup>[1][1], [2][2], [3][3]</sup>.

**Mar 2025 — PSBC to Absorb Direct Banking Unit, Cutting Costs as Mobile Banking Grows** distinctive Chinese state bank digital consolidation.

## Ownership & operator

**Operating entity**: **Postal Savings Bank of China Co Ltd** (HKEX: 1658; SSE: 601658; Chinese Big-6 state-owned commercial bank; China Post Group Corp majority controlling).

**Major shareholders**: **China Post Group Corp (Chinese state-owned postal + financial services + logistics group) majority controlling + Chinese government + Chinese retail + institutional + foreign investors**.

**Regulators**: **PBoC (People's Bank of China) + NFRA (National Financial Regulatory Administration China)**.

## Technical integration

PSBC mobile banking app v10.0 (iOS + Android; 390M mobile users early 2025; 96% standard transactions migrated to digital channels; mobile banking app v10.0 primary sales engine) + psbc.com online + PSBC nearly 40,000 business outlets covering 99% of China's counties through a dual-track model of direct and agency outlets + PSBC UnionPay + Visa + Mastercard cards; CNAPS + UnionPay + UnionPay QR + e-CNY (post-PBoC e-CNY pilot expansion); **PSBC Integrated Retail Transformation distinctive Chinese rural + low income banking digital strategy** + **Mobile banking app v10.0 featuring interfaces for rural users and seniors** distinctive Chinese state bank rural digital inclusion + **PSBC to Absorb Direct Banking Unit, Cutting Costs as Mobile Banking Grows** distinctive Chinese state bank digital consolidation.

## Users & growth

**Early 2025**: PSBC 390M mobile users + 96% standard transactions migrated to digital channels + mobile banking app v10.0 primary sales engine + nearly 40,000 business outlets covering 99% of China's counties through a dual-track model of direct and agency outlets.

## Use cases

Chinese retail + private + SME + commercial + rural + low income + senior banking via PSBC mobile banking app v10.0 + psbc.com online + PSBC nearly 40,000 business outlets covering 99% of China's counties through a dual-track model of direct and agency outlets + PSBC UnionPay + Visa + Mastercard cards; CNAPS + UnionPay + UnionPay QR + e-CNY (post-PBoC e-CNY pilot expansion); **PSBC Integrated Retail Transformation distinctive Chinese rural + low income banking digital strategy** + **Mobile banking app v10.0 featuring interfaces for rural users and seniors** distinctive Chinese state bank rural digital inclusion.

## Implementations & partners

**Operator**: Postal Savings Bank of China Co Ltd (HKEX: 1658; SSE: 601658; Chinese Big-6 state-owned commercial bank; China Post Group Corp majority controlling); China Post Group Corp (Chinese state-owned postal + financial services + logistics group) majority controlling + Chinese government + Chinese retail + institutional + foreign investors.

**Chinese Big-6 state-owned commercial banks**: **ICBC + ABC + BOC + CCB + BOCOM + PSBC** distinctive Chinese state-owned banking sector.

**Major Chinese banking + payments competitors**: [ICBC Mobile Banking](https://docs.barcoder.ai/docs/wallets/icbc-mobile) (Industrial and Commercial Bank of China; HKEX: 1398; SSE: 601398; world's largest bank by assets) + [Agricultural Bank of China (ABC Mobile Banking)](https://docs.barcoder.ai/docs/wallets/abc-china) (Agricultural Bank of China; HKEX: 1288; SSE: 601288; Chinese Big-4) + [Bank of China (BoC) Mobile Banking](https://docs.barcoder.ai/docs/wallets/boc-mobile) (Bank of China; HKEX: 3988; SSE: 601988; Chinese Big-4) + [China Construction Bank (CCB) Mobile Banking](https://docs.barcoder.ai/docs/wallets/ccb-mobile) (China Construction Bank; HKEX: 939; SSE: 601939; Chinese Big-4) + [Bank of Communications (BOCOM Mobile Banking)](https://docs.barcoder.ai/docs/wallets/bocom-china) (Bank of Communications; HKEX: 3328; SSE: 601328; Chinese Big-5) + [China Merchants Bank (CMB Mobile Banking + CMB Life)](https://docs.barcoder.ai/docs/wallets/cmb-bank) (China Merchants Bank; HKEX: 3968; SSE: 600036; Chinese commercial bank) + [Alipay](https://docs.barcoder.ai/docs/wallets/alipay) (Ant Group Alipay; Chinese mobile wallet; 1B+ active users) + [WeChat Pay](https://docs.barcoder.ai/docs/wallets/wechat-pay) (Tencent WeChat Pay; Chinese mobile wallet; >1B users) + [UnionPay QR](https://docs.barcoder.ai/docs/standards/unionpay-qr) (Chinese UnionPay card network).

**Regulators**: PBoC + NFRA.

## Fun facts

- **Chinese Big-6 state-owned commercial bank** (Postal Savings Bank of China Co Ltd; HKEX: 1658; SSE: 601658).
- **China Post Group Corp majority controlling** distinctive Chinese state-owned bank China Post heritage.
- **390M mobile users early 2025** distinctive Chinese state bank mobile banking penetration.
- **96% standard transactions migrated to digital channels** distinctive Chinese state bank digital channel migration.
- **Mobile banking app v10.0 primary sales engine** distinctive Chinese state bank mobile-first sales channel.
- **Nearly 40,000 business outlets covering 99% of China's counties through a dual-track model of direct and agency outlets** distinctive Chinese state bank rural banking penetration.
- **PSBC Integrated Retail Transformation distinctive Chinese rural + low income banking digital strategy**.
- **Mobile banking app v10.0 featuring interfaces for rural users and seniors** distinctive Chinese state bank rural digital inclusion.
- **PSBC to Absorb Direct Banking Unit, Cutting Costs as Mobile Banking Grows** distinctive Chinese state bank digital consolidation.

## Comparison

| Feature | PSBC | [ICBC Mobile Banking](https://docs.barcoder.ai/docs/wallets/icbc-mobile) (Industrial and Commercial Bank of China rival; world's largest bank by assets) | [Agricultural Bank of China (ABC Mobile Banking)](https://docs.barcoder.ai/docs/wallets/abc-china) (Agricultural Bank of China rival; Chinese Big-4) | [Bank of China (BoC) Mobile Banking](https://docs.barcoder.ai/docs/wallets/boc-mobile) (Bank of China rival; Chinese Big-4) | [China Construction Bank (CCB) Mobile Banking](https://docs.barcoder.ai/docs/wallets/ccb-mobile) (China Construction Bank rival; Chinese Big-4) |
|---|---|---|---|---|---|
| Operator | **Postal Savings Bank of China Co Ltd (HKEX: 1658; SSE: 601658; Chinese Big-6 state-owned commercial bank; China Post Group Corp majority controlling)** | Industrial and Commercial Bank of China (HKEX: 1398; SSE: 601398; world's largest bank by assets) | Agricultural Bank of China (HKEX: 1288; SSE: 601288; Chinese Big-4) | Bank of China (HKEX: 3988; SSE: 601988; Chinese Big-4) | China Construction Bank (HKEX: 939; SSE: 601939; Chinese Big-4) |
| Type | **Chinese Big-6 state-owned commercial bank + China Post Group Corp majority controlling + 390M mobile users early 2025 + 96% standard transactions migrated to digital channels + Mobile banking app v10.0 primary sales engine + nearly 40,000 business outlets covering 99% of China's counties + PSBC Integrated Retail Transformation + Mobile banking app v10.0 featuring interfaces for rural users and seniors** | World's largest bank by assets + ICBC Mobile Banking | Chinese Big-4 + ABC Mobile Banking | Chinese Big-4 + BoC Mobile Banking + Hong Kong Bank of China + Macau Bank of China | Chinese Big-4 + CCB Mobile Banking |
| Country | CN + HK + GB | CN + 49 countries | CN + 18 countries | CN + 61 countries + HK + MO | CN + 30+ countries |
| Distinctive | **1919 Postal savings services launched in China; Mar 20 2007 Postal Savings Bank of China founding by separating postal savings business from China Post; Sep 28 2016 PSBC IPO on HKEX (1658); Dec 10 2019 PSBC SSE (601658) IPO dual-listing; Early 2025 390M mobile users + 96% standard transactions migrated to digital channels + Mobile banking app v10.0 primary sales engine + nearly 40,000 business outlets covering 99% of China's counties; Mar 2025 PSBC to Absorb Direct Banking Unit, Cutting Costs as Mobile Banking Grows** | 1984 ICBC founding; 2006 ICBC dual-listing HKEX + SSE | 1951 ABC founding; 2010 ABC dual-listing HKEX + SSE | 1912 BoC founding (oldest Chinese bank); 2006 BoC dual-listing HKEX + SSE | 1954 CCB founding; 2005 CCB HKEX IPO + 2007 CCB SSE IPO |

## Status

**Active, Chinese Big-6 state-owned commercial bank + China Post Group Corp majority controlling + 390M mobile users early 2025 + 96% standard transactions migrated to digital channels + nearly 40,000 business outlets covering 99% of China's counties** <sup>[1][1], [2][2], [3][3]</sup>:
- **Postal Savings Bank of China Co Ltd (HKEX: 1658; SSE: 601658; Chinese Big-6 state-owned commercial bank; China Post Group Corp majority controlling)** since 1919 Postal savings services launched in China + Mar 20 2007 Postal Savings Bank of China founding by separating postal savings business from China Post + Sep 28 2016 PSBC IPO on HKEX (1658) + Dec 10 2019 PSBC SSE (601658) IPO dual-listing.
- **PSBC 390M mobile users early 2025 + 96% standard transactions migrated to digital channels**.
- **PSBC Integrated Retail Transformation distinctive Chinese rural + low income banking digital strategy** + **Mobile banking app v10.0 featuring interfaces for rural users and seniors**.
- **PBoC + NFRA regulated**.

## Sources

[1]: https://www.yicaiglobal.com/news/postal-savings-bank-of-china-to-absorb-its-direct-banking-unit "Postal Savings Bank of China to Absorb Direct Banking Unit, Cutting Costs as Mobile Banking Grows — Yicai Global"
[2]: https://en.wikipedia.org/wiki/Postal_Savings_Bank_of_China "Postal Savings Bank of China — Wikipedia"
[3]: https://matrixbcg.com/blogs/marketing-strategy/psbc "Sales and Marketing Strategy of Postal Savings Bank Of China (PSBC) Company — MatrixBCG"
[cn-cro]: https://docs.barcoder.ai/docs/payments/CN

- [1] [Postal Savings Bank of China to Absorb Direct Banking Unit, Cutting Costs as Mobile Banking Grows — Yicai Global][1]
- [2] [Postal Savings Bank of China — Wikipedia][2]
- [3] [Sales and Marketing Strategy of Postal Savings Bank Of China (PSBC) Company — MatrixBCG][3]
- <sup>[China report](https://docs.barcoder.ai/docs/payments/CN)</sup> In-corpus: `reports/countries/CN-china.md`

## Source

Biography extracted from [psbc.md](https://docs.barcoder.ai/source/wallets/psbc). See `matrix.md` for standards-support matrix if present.