Mobile banking boosts local economies across China

A 20-minute ride on a steamboat from the wharf of the Sandu Gulf port area in Ningde, a coastal city in Fujian province, is all that is needed to reach the fishery owned by fisherman Zheng Xiangan, 39, who has just received about 1 million yuan ($154,000) from consumers and fish sellers through a local bank's mobile app.

Zheng said, "Can you imagine that two years ago, such a lot of money could have been transferred only by cash, and my clients had to drive a boat to me, and we did the business face-to-face?"

Things have changed since Ningde Rural Commercial Bank introduced the mobile banking service to local fishermen.