China Telecom's Beijing branch has published a report, stating that it will open a mobile phone payment function for its eSurfing 3G users.

China Telecom's Shanghai branch and Standard Chartered China have signed a strategic agreement to implement cooperation in financial services and information communications.

Alipay.com, the Internet payment subsidiary of the Chinese e-commerce group Alibaba, has announced that it has launched a new convenient Internet payment service.

Rumors on the Internet revealed that the Chinese B2B e-commerce group Alibaba has set up a commercial bank subsidiary, which has gained the approvals of the People's Bank of China and China Banking Regulatory Commission.

The People's Bank of China's second generation Internet payment system, which is also know as the super online banking system, has been formally launched in Shenzhen, Tianjin, Beijing, and Guangzhou.

Chinese Internet company Tencent and China Merchants Bank have signed a strategic cooperating agreement to realize overall cooperation for the construction of a financial service platform.

China Construction Bank and Microsoft China have signed a strategic cooperation memorandum and the two parties will jointly establish a new generation of online banking based on Microsoft's technology platform to improve the security and convenience of online banking applications.

China Financial Certification Authority has published a survey report on China's Internet banks in 2008.