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Haikou Jiangdong New Area
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China to expand mobile payment application scenarios, PBOC

April 24, 2020


Abstract : China will try to expand application scenarios of mobile payment and optimize infrastructure to support its development, the People's Bank of China (PBOC) said on Thursday.

BEIJING, April 24 (Xinhua) -- China will try to expand application scenarios of mobile payment and optimize infrastructure to support its development, the People's Bank of China (PBOC) said on Thursday.

According to the payment and settlement work conference held by PBOC, efforts should be made to enhance payment system management and give a full display of payment system's role in promoting high-quality economic development.

Innovation is encouraged to safeguard fair competition and ensure a sustainable development of payment industry.

In the meantime, China will crack down on cross-boarder gambling and telecom scam in an all-out effort, adhere to the bottom line of capital security, and strengthen risk control in the payment field.

The payment industry should strive to improve its service level and assist enterprises' efforts to resume work. (Edited by Zhang Yuan with Xinhua Silk Road, zhangyuan11@xinhua.org)

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Keyword: payment PBOC

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