Vegetable wholesaler Han Chaofeng pulls up outside his local bank branch, parks his three-wheeler truck and uses his postal savings account to send money back to his family in a rural part of Anhui province, some 170 miles away.
“If I want to transfer money to their accounts, they don’t have to walk miles to a bigger town to withdraw it,” says Han who has been using his account at the Postal Savings Bank of China PSBC since he moved to the more prosperous Zhejiang province for work in 2011.
Han is one of China’s 278 million migrant workers, many of whom rely on the world’s biggest...