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Banking & Finance

Technical difficulties at ICBC affect transactions

Communication systems at Industrial and Commercial Bank of China (ICBC) in cities around China were temporarily destabilized Wednesday as a malfunction occured during a routine system update and interest tax rate adjustment, reported People's Net (in Chinese). Customers were unable to log on to ICBC's service website or reach its service hotlines during the day, and transactions were blocked in some branches. An industry specialist said ICBC should update its communication system during the night rather than the day, monitor its internet system capacity and put emergency response systems in place.

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