Pity the postal systems of the large economies. Many had centre stage during the development of communications. Letters, telegraph messages and, later, phone calls all came under their watch. Then digital came along.
One legacy remains: the postal branch system, which still appeals to customers needing to visit their banks. Yet as banks strive to cut costs, having fewer branches appeals to their shareholders. This is the backdrop against which China wants a public listing for its own postal bank.
Postal Savings Bank of China, simply put, looks behind the times.
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