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Xinhua Silk Road
Economy

China sees higher online payments during Qingming holiday

April 07, 2021


Abstract : NetsUnion, the Chinese online payment clearinghouse, and China UnionPay, a card payment giant, on Tuesday, reported higher payments during the 2021 Tomb-sweeping Day holiday as people splurged on travel, catering, and accommodations.

BEIJING, April 6 (Xinhua) -- NetsUnion, the Chinese online payment clearinghouse, and China UnionPay, a card payment giant, on Tuesday, reported higher payments during the 2021 Tomb-sweeping Day holiday as people splurged on travel, catering, and accommodations.

During the three-day holiday that concluded on Monday, combined remittance on the two platforms reached 3.55 trillion yuan (about 541.76 billion U.S. dollars).

NetsUnion processed 4.62 billion online payment transactions worth 2.65 trillion yuan during the holiday, up by 34.26 percent and 48.86 percent, respectively, year on year. The two figures are both record highs compared with previous Tomb-sweeping Day holidays.

China UnionPay meanwhile reported transactions to the tune of 903.6 billion yuan, up by 3.6 percent.

Tomb-sweeping Day, also known as Qingming Festival, was observed on April 4 this year. It is a traditional Chinese holiday for people to pay tribute to the dead and worship ancestors. Enditem

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Keyword: online payments

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