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Beijing Post Launches Electronic Remittance Service

Starting from Sunday, post authority in the Chinese capital will launch a new electronic remittance service which can transfer money to other provinces and cities nationwide within 24 hours.

The new remittance service will be backed by an integrated postal information network that presently interlinks 260 post offices in Beijing with major postal outlets nationwide, Friday's Beijing Daily quoted sources with the Beijing Post.

Ongoing expansion of the network will shortly incorporate all the 600 post offices in Beijing into the electronic remittance system, an executive of the Beijing Post was quoted as saying.

The new service, already introduced by China Post and Shanghai Post in July last year, represents the sustained efforts of China's postal services to sharpen their competitive edge at a time when e-post and e-commerce are booming.

The charge for the service remains at one percent of the remittance, and the maximum amount for a single remittance is limited to 10,000 yuan, according to the Beijing Daily report.

(Xinhua News Agency January 12, 2002)

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