China's banks urged to prevent system breakdown during Olympics

　　    BEIJING, Feb. 19 (Xinhua) -- Chinese banks must upgrade their information technology to prevent risks of system collapse caused by bank card transaction and stock trading peaks during the upcoming Olympics, said China's bank watchdog on Tuesday.

　　    A large growth in card use and stock trading is likely to overload the country's banking system when its capital city Beijing holds the 29th Summer Olympics in August, said Guo Ligen, vice-chairman of the China Banking Regulatory Commission (CBRC), in a statement issued at the commission's website.

　　    Guo urged the country's lenders to trial the system in advance, beef up equipment and expand the operating capacity of the information system.

　　    He announced the CBRC will launch an inspection of major banks' information systems from February to July.

　　    "We can by no means bring the problems to the Olympics and spread hazards outside the banking industry," said Guo, who noted the industry was from now on had a "first-class emergency status".

　　    System breakdown had occurred at five commercial banks in the past year, in most cases, resulting from the impact of swelling stock and fund trading businesses through the banking system, said Guo.

　　    The victims included the Bank of Communications, the Industrial and Commercial Bank of China, the China Merchants Bank, the Bank of Beijing and the China Construction Bank.

　　    "Problems occurred at those banks with relatively advanced information technology and risk control ability, some happened even at a crucial moment," said Guo. "It revealed the fragility of our banking information system."

　　    Beijing is expected to have 800,000 visits from abroad and 900,000 from home tourists during the Olympics, while visits from overseas throughout this year will amount to 4.6 million, preliminary estimates show.

　　    The banks must ensure the safety of their data operating centers and to have contingency plans, said Guo.