BUSINESS Online transactions of UnionPay exceed 1.5 trillion yuan during May Day holiday

BUSINESS

Online transactions of UnionPay exceed 1.5 trillion yuan during May Day holiday

People's Daily Online

17:14, May 07, 2020

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File photo: Xinhua

From May 1 to 5, the total amount of UnionPay online transactions approached 1.6 trillion yuan (about 0.2 trillion U.S. dollars), with a daily average of about 310 billion yuan, an increase of 16 percent compared with daily Saturdays and Sundays in April, according to data from China Unionpay, a Chinese financial services corporation.

The data also indicated that the total number of online transactions of UnionPay has also increased by 7 percent compared with April.

The postal industry continues to maintain a high growth momentum during the May Day holiday. From May 1 to May 5, the postal industry collected 1 billion parcels, up 41.8 percent year on year, meanwhile, 1.1 billion express parcels were delivered, up 38.9 percent year on year, said the State Post Bureau.

After hitting a low in January, the volume of the express package business quickly recovered in February and is now stable with a high-speed growth range of more than 30 percent.

Officials with the State Post Bureau said the online shopping festival, jointly organized by departments of commerce, post and others, was a boost to the recent business recovery.

Online sales of food, daily necessities, 3C products (computers, telecommunication, consumer electronics) and other commodities are booming, strongly driving the resumption of work and production of small and medium-sized enterprises.

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