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According to 2019 National Management and Technical Seminar on Removing Highway Toll Stations on Provincial Borders held on June 21, Postal Savings Bank of China (“PSBC”) ranked 1st among peers in newly increased ETC market share in 2018; as at the end of May 2019, PSBC issued 7,566,400 ETC cards, ranking 1st among peers in newly increased market share of the year.
A senior executive of PSBC attended the seminar on invitation and gave a keynote speech titled Taking on Responsibilities, Taking Actions and Forming Synergies to Advance the Development of ETC. The seminar centered on the challenges and opportunities after toll stations on the provincial borders are removed, network security systems, ETC promotion and operation service, toll inspection, differentiated highway tolling and other management and technical issues.
PSBC has always attached great importance to the development of ETC business. As the only financial institution responsible for the building of cross-provincial fund settlement system and the cross-provincial fund ETCsettlement, PSBC has won wide recognitionfrom entities such as the Ministry of Transport since the first batch of expressway ETC came into service at the end of 2014.
According to the decision and arrangement of “removing all highway toll stations on provincial borders within two years to realize nonstop and swift toll collection, so as to reduce traffic congestion and facilitate the masses” proposed in the Report on the Work of the Government delivered at the national “two sessions”in 2019, the Ministry of Transport has made it clear that by the end of 2019, all highway toll stations on provincial borders will be removed in principle and the full coverage of ETCswill be realized to achieve free flow collection.As a cross-provincial ETCfund settlement bank, PSBC will take on responsibilities, take actions such as giving full play to its advantage of outlets that spread all over rural and urban areas and its foundation advantage that 34 of its branches nationwide can handle ETC business, and promote multi-channel card issuance, multi-product mixing, multi-scenario application and multi-path for revenue increase so as to contribute more to the development of the transport industry.
Extracted from China Post News