my country leads the world in mobile payment, with a penetration rate of 86%

Zhang Qingsong, deputy governor of the People's Bank of China, briefed the media on the relevant situation of the "Regulations on the Supervision and Administration of Non-bank Payment Institutions" at the State Council's regular policy briefing held by the State Council Information Office on December 28, and answered reporters' questions. Ask questions.

He pointed out that the penetration rate of personal bank accounts in our country has exceeded 95%, which is higher than the average level of middle- and high-income economies. At the same time, the penetration rate of mobile payment has reached 86%, ranking first in the world.

The payment industry has always played an important role in serving the real economy and meeting people's livelihood needs. After a long period of development, my country has established a wide-coverage, safe and efficient payment and settlement system, with the central bank's payment and settlement system as the core, and commercial banks, clearing agencies, non-bank payment institutions, etc. participating. Currently, there are more than 4,000 commercial banks and more than 180 payment institutions in our country, effectively meeting the payment needs of 160 million business entities and hundreds of millions of consumers. The ownership rate of personal bank accounts has exceeded 95%, which is higher than the average level of middle- and high-income economies. The penetration rate of mobile payment has reached 86%, ranking first in the world.

According to him, the central bank has cooperated with relevant departments to establish a special working mechanism and issued guidance. Currently, all units are advancing various tasks in an orderly manner. In general, this solution can be summarized as "swiping cards for large amounts, scanning QR codes for small amounts, and pocketing the money in cash".

According to the "China Third-Party Payment Mobile Payment Market Quarterly Monitoring Report 2023" released by Analysys Analysis In the first quarter, my country's third-party mobile payment market transaction scale reached 83.33 trillion yuan in the quarter, a month-on-month increase of 8.97%.

Zhang Qingsong also emphasized the important role of payment institutions and clearing institutions in corporate governance and service support. He pointed out that payment institutions should strengthen corporate governance, including improving governance structures, regulating shareholder behavior and strengthening internal supervision. The clearing agency needs to effectively perform its service support responsibilities for national decision-making and deployment and major planning. In addition, Zhang Qingsong also emphasized the improvement of the convenience and competitiveness of payment and clearing services in order to provide more convenient payment services for overseas visitors to China.

According to his introduction, the People’s Bank of China and the Ministry of Justice plan to strengthen policy publicity and interpretation in the future to guide payment institutions to correctly implement the provisions of the Regulations. At the same time, they will also speed up the formulation of implementation details of the Regulations and revise and clean up existing regulations and normative documents in the field of non-bank payments.

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