Postal Savings Bank of China
A state-controlled Chinese commercial bank focused on retail, rural, household and small-business finance.
Last updated October 9, 2026
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Overview
Postal Savings Bank of China, commonly known as PSBC, is a large state-controlled commercial bank headquartered in Beijing. It was created during the restructuring of China’s postal savings system and formally launched in March 2007. The bank inherited the postal financial business developed through China’s postal network, giving it an unusually broad physical presence across urban and rural communities. Its operating model combines directly managed banking outlets with services distributed through postal outlets, commonly described as a “self-operated plus agency” model. The institution’s historical roots reach back to postal savings activity established in China in 1919. Postal savings was suspended in 1953 after the founding of the People’s Republic and was restored in 1986 through cooperation between the former Ministry of Posts and Telecommunications and the People’s Bank of China. During its earlier operating phase, postal savings deposits were transferred to the central bank under regulatory arrangements. The creation of a dedicated postal savings bank in the 2000s marked a transition toward a modern commercial-bank structure with its own balance sheet, governance, risk-management framework and diversified financial services. The bank was initially established as China Postal Savings Bank Co., Ltd. In January 2012, it was reorganized as China Postal Savings Bank of China Co., Ltd., inheriting the former entity’s assets, liabilities, personnel, branches and business. In December 2015, it brought in a group of domestic and international strategic investors, including financial institutions, state-owned enterprises and technology companies. It subsequently completed a Hong Kong initial public offering in September 2016 and an A-share listing on the Shanghai Stock Exchange in December 2019. Its Shanghai listing made it the sixth Chinese state-owned large commercial bank to have both Hong Kong and mainland listings. PSBC is positioned primarily as a large retail bank serving households, farmers, rural communities, small and micro enterprises and other parts of the real economy. Its products include deposits, personal and corporate loans, credit cards, payment and settlement services, wealth-management products, insurance and fund distribution, foreign-exchange-related services, investment banking and treasury activities. The bank also participates in inclusive finance, agricultural finance, consumer finance and digital banking through subsidiaries and partnerships. Its competitive identity rests on customer reach, a large deposit base, long-standing familiarity with postal outlets and exposure to customers underserved by conventional urban banking networks. The network provides access to low-tier cities, counties and villages, while digital channels increasingly supplement physical distribution. This model also creates operational and governance complexity because the bank’s own outlets and postal agency network must operate under consistent service, compliance and consumer-protection standards. As a listed bank, PSBC is subject to Chinese banking regulation and public-company disclosure requirements. China Post Group remains its controlling shareholder, while other significant shareholders have included the Ministry of Finance, China Mobile, China Telecom, China Life and public-market investors. The bank remains active and continues to emphasize retail banking, inclusive finance, capital strengthening, digital transformation and support for rural and small-business customers. Reported 2024 financial figures include net profit attributable to shareholders of approximately RMB 86.716 billion and total assets of approximately RMB 17.08491 trillion; these figures should be read with the bank’s 2024 reporting period and published financial disclosures in mind.
History
Postal savings in China has a longer history than the present bank. A national postal savings institution was established in 1919, but postal savings was discontinued in 1953 after financial functions were consolidated into the banking system of the newly founded People’s Republic. Postal remittance services continued to be important, particularly when formal banking coverage was limited. Postal savings resumed in 1986 through a joint arrangement involving the postal administration and the People’s Bank of China. The service first returned in a limited number of cities and was then expanded through postal outlets. In this period, postal savings deposits were handled under a regulatory and financial-transfer arrangement with the central bank. The postal network gave the service a distinctive geographic advantage, particularly in counties and rural areas where conventional bank branches were scarce. By the late 1980s, postal savings had become a substantial source of household deposits. China’s 2005 postal-system reform plan called for a dedicated postal savings bank and the separation of postal financial activities from the former operating framework. The banking regulator approved preparations in 2006, and China Post Group established China Postal Savings Bank Co., Ltd. The institution formally opened in March 2007. It inherited the postal financial business, associated assets and liabilities, and a nationwide distribution infrastructure. In January 2012, the limited company was reorganized into China Postal Savings Bank of China Co., Ltd. The change formalized its shareholding-company structure while preserving continuity for customers, branches, employees, contracts and services. The bank’s stated strategic role developed around three principal customer groups: rural and agricultural customers, urban and rural households, and small and medium-sized enterprises. A further transformation occurred in December 2015, when PSBC introduced a group of strategic investors from China and overseas. The investors included sovereign-linked institutions, international financial organizations, commercial banks, insurers, technology companies and telecommunications enterprises. The transaction supported governance, capital and business development before the bank’s public-market expansion. PSBC’s Hong Kong listing took place on 28 September 2016. In 2017, the bank announced plans to seek an A-share listing. In February 2019, Chinese banking regulators classified it as a state-owned large commercial bank, making it the sixth institution in that category. On 10 December 2019, its A shares began trading in Shanghai. The two-market listing completed the broad “restructuring, strategic investment and A+H listing” sequence associated with its institutional reform. The bank has continued to build a business centered on retail deposits and lending while broadening into inclusive finance, wealth management, insurance distribution, consumer finance, digital banking and corporate services. Its distinctive distribution system combines PSBC-managed branches with postal agency outlets. This creates extensive reach but requires coordination of technology, service quality, sales practices, risk controls and consumer protection across different operating channels. In 2025, the bank completed a targeted A-share issuance that increased total share capital and supplied additional capital for growth and regulatory resilience. It also pursued the establishment of a financial asset investment company. PSBC remains controlled by China Post Group and operates as an active listed commercial bank serving the Chinese domestic market.
- 2025
Targeted A-share capital raising
[4]The bank completed a targeted issuance of 20,933,977,454 A shares, increasing total ordinary share capital to 120,095,053,492 shares.
- 2019
Shanghai listing and large-bank classification
[1]Regulators classified PSBC as a state-owned large commercial bank, and its A shares began trading in Shanghai in December.
- 2016
Hong Kong listing
[1]PSBC listed on the Main Board of the Hong Kong Stock Exchange.
- 2015
Strategic investors introduced
[1]PSBC brought in ten domestic and international strategic investors, broadening its shareholder base before its public listings.
- 2012
Reorganized as a joint-stock company
[9]The limited company was converted into China Postal Savings Bank of China Co., Ltd., with continuity of its business, branches, assets and personnel.
- 2007
Dedicated postal savings bank launched
[1]China Postal Savings Bank Co., Ltd. formally opened in Beijing after the restructuring of postal financial operations.
- 1986
Postal savings resumes
[3]Postal savings restarted through cooperation between the postal administration and the People’s Bank of China, initially in 12 cities.
- 1953
Postal savings suspended
[3]Postal savings services were discontinued and related financial functions were integrated into the banking system, although postal remittance services continued.
- 1919
Postal savings established
[3]China established a national postal savings institution, creating the historical foundation for the later postal-finance system.
Products and positioning
A nationwide, retail-oriented state-controlled commercial bank using China Post’s broad distribution network to serve households, rural communities, farmers, small businesses and inclusive-finance customers.
Retail banking · 2007
Personal banking
Personal banking is the bank’s core franchise. It includes current and time deposits, personal loans, mortgages, consumer credit, agricultural and rural lending, credit cards, payments, wealth management and agency distribution of insurance and funds. The business is supported by the bank’s own branches, postal agency outlets and digital channels, enabling it to reach households in both major cities and less densely served counties and rural communities.
Inclusive banking · 2007
Inclusive and rural finance
PSBC provides credit and related financial services to farmers, agricultural operators, rural households, small businesses and microenterprises. The offering is strategically important because the bank’s postal distribution network reaches locations where conventional banking infrastructure is less extensive. Products may include agricultural operating loans, microenterprise loans, guaranteed or collateralized credit and settlement services for rural businesses.
Commercial banking · 2007
Corporate banking
Corporate banking serves public-sector bodies, state-owned enterprises, private companies, financial institutions and other organizations. Services include corporate deposits, working-capital and fixed-asset lending, transaction banking, cash management, trade-related services, bond and debt-financing support, syndicated lending and other investment-banking activities. The business complements PSBC’s retail orientation and supports its role in financing the wider economy.
Wealth management · 2007
Wealth management and agency distribution
The bank distributes wealth-management products and acts as an agent for insurance, mutual funds and other financial products. Its large retail customer base and nationwide service network give it a substantial distribution platform. Products are offered through branches and electronic channels and are subject to applicable suitability, disclosure, risk-management and consumer-protection requirements.
Payments · 2007
Cards and payments
PSBC provides debit and credit cards, account payments, remittances, settlement, mobile banking, internet banking and merchant-related services. These capabilities connect its physical network with digital finance and support household, small-business and institutional customers. Payment services also reinforce the bank’s deposit and transaction-banking relationships.
Consumer finance · 2015
Consumer finance
Consumer-finance activities provide personal credit for consumption and related household needs. The bank has also developed consumer-finance capabilities through affiliated businesses and digital channels. These activities broaden the retail product range beyond deposits and secured lending while requiring specialized underwriting, data governance and customer-protection controls.
Controversies
2024
Li Guohua sentenced to 16 years in first instance for bribery and abuse of power
On May 7, 2024, the Qingdao Intermediate People's Court sentenced Li Guohua, former general manager of China Post and chairman of Postal Savings Bank of China, to 16 years in prison in the first instance. It found that he accepted bribes of more than 66.45 million yuan, of which more than 21.59 million yuan was not actually obtained; abuse of power caused losses of state-owned assets of more than 49.96 million yuan, involving his positions in the postal system.
2023
Fined 31.86 million yuan by central bank for multiple financial management violations
In July 2023, the central bank announced administrative penalties including a fine of 31.86 million yuan on Postal Savings Bank of China for 10 categories of illegal acts. Caixin reported on its penalty and those of other financial institutions in the same period. This entry is limited to the matters and institution specified in the penalty and does not imply that all branches and sub-branches committed the same violations.
2016
Criminal case of first president Tao Liming and termination of trial after death
According to The Paper, the case involving Tao Liming, first president of Postal Savings Bank of China, included over-issuance of certificate treasury bonds and illegal financing, among other matters, and he had received a first-instance judgment. He died in June 2016 during the second-instance trial, and his own case was terminated due to death; the final judgments of other defendants in the same case cannot be regarded as his own final conviction.
Brand decisions
2025
Targeted A-share issuanceOtherBackground
The bank pursued additional common-equity capital to reinforce its balance sheet and support its long-term development.
Action taken
PSBC issued 20,933,977,454 A shares to selected investors, including the Ministry of Finance, China Mobile and China State Shipbuilding-related investors, at RMB 6.21 per share.
Aftermath
Total ordinary share capital increased from 99,161,076,038 shares to 120,095,053,492 shares, while the net proceeds were approximately RMB 129.962 billion.
Net proceeds. RMB 129,961,940,637.58 (June 2025)
2025
Plan to establish a financial asset investment companyStrategyBackground
PSBC sought to broaden its financial-investment capabilities and support its strategic development within the regulatory framework for commercial banks.
Action taken
The board approved a proposal to invest RMB 10 billion in establishing a financial asset investment company. Regulatory approval to prepare the entity was subsequently reported.
Aftermath
The initiative remained part of PSBC’s efforts to diversify its financial-services platform; later operational approvals should be tracked through official disclosures.
Planned investment. RMB 10 billion (2025)
2019
Shanghai A-share IPOOtherBackground
After its Hong Kong listing, PSBC pursued a mainland listing to expand access to capital and strengthen its capital position as its loan and retail businesses grew.
Action taken
The bank issued A shares and began trading on the Shanghai Stock Exchange under ticker 601658. The offering used an over-allotment, or green-shoe, mechanism.
Aftermath
The listing completed PSBC’s A+H public-market structure and made it the sixth state-owned large commercial bank with both mainland and Hong Kong listings.
A-share IPO proceeds. Approximately RMB 28.447 billion before the over-allotment option; approximately RMB 32.71 billion after implementation of the option (December 2019)
2015
Introduction of strategic investorsM&ABackground
The bank sought to strengthen its capital, governance and commercial capabilities before entering international and mainland public markets.
Action taken
PSBC issued new shares to a group of domestic and international strategic investors, including financial institutions, state-linked enterprises, an insurer, technology companies and telecommunications groups.
Aftermath
The transaction broadened the shareholder base and preceded the bank’s Hong Kong and Shanghai listings.
Strategic investment amount. RMB 45.1 billion (December 2015)
Recent events
- 2025
PSBC completes targeted A-share issuance[4]
Other
The bank completed a targeted issuance of A-shares to selected strategic and state-linked investors, increasing total share capital and raising capital for ongoing development.
- 2025
PSBC advances establishment of a financial asset investment company[2]
Other
The board approved a plan to invest RMB 10 billion in establishing a financial asset investment company; regulatory approval to prepare the entity followed later in the year.
- 2019
Postal Savings Bank of China completes Shanghai A-share listing[1]
Other
The bank began trading on the Shanghai Stock Exchange under ticker 601658, giving it an A+H listed structure and strengthening its capital base.
- 2016
Postal Savings Bank of China completes Hong Kong listing[1]
Other
PSBC listed its H shares on the Main Board of the Hong Kong Stock Exchange, completing a major step in its restructuring and capital-market development.
Sources14 sources
- 1Postal Savings Bank of China investor-relations overviewpsbc.com
- 2Postal Savings Bank of China investor-relations pagepsbc.com
- 3Postal Savings Bank of China historical referencezh.wikipedia.org
- 42024 annual-report disclosurestatic.cninfo.com.cn
- 52019 Shanghai IPO coveragem.cls.cn
- 6Current executive references.askci.com
- 7Postal Savings Bank of China official websitepsbc.com
- 8中国邮政储蓄银行 - 维基百科zh.wikipedia.org
- 9Reorganized as a joint-stock companybaike.baidu.com
- 10Li Guohua sentenced to 16 years in first instance for bribery and abuse of powerspp.gov.cn
- 11Criminal case of first president Tao Liming and termination of trial after deaththepaper.cn
- 12Fined 31.86 million yuan by central bank for multiple financial management violationsfinance.caixin.com
- 13邮储银行上线统一授信管理系统 以智能风控赋能业务高质量发展finance.cqnews.net
- 14邮储银行推出“旅邮通”服务方案 支持文旅行业快速发展ent.people.com.cn
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