The UID project facilitates this by enabling the opening of bank accounts as well as by providing an infrastructure for payments and remittances across this vast country.

ECONOMIST: Asia

Only 4 months after the Industrial and Commercial Bank of China began opening savings accounts linked to gold, more than 1 million such accounts have been opened.

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The Chinese central bank is expected to release guidelines on the opening of the new accounts soon, the people said.

WSJ: China May Give Foreign Pension Funds New Investment Opportunities

"The appeal for us is opening new accounts and taking care of our customers to make the bank grow, " said F.

WSJ: Bank Customers Make Smartphone Connection