CHINA China's electronic payments continue steady growth

CHINA

China's electronic payments continue steady growth

Xinhua

10:09, October 27, 2019

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File photo: VCG

BEIJING, Oct. 27 (Xinhua) -- China's electronic payments maintained steady growth last year with broader coverage, official data showed.

In 2018, 82.39 percent of Chinese adults used electronic payments, up 5.49 percentage points from the previous year, according to a report on inclusive finance from the People's Bank of China.

In rural areas, the proportion went up 5.64 percentage points to 72.15 percent.

Online payments handled by banking financial institutions totaled 2,126.3 trillion yuan (about 300.9 trillion U.S. dollars), up 2.47 percent year on year, the report showed.

Mobile payments handled by these institutions stood at 277.39 trillion yuan, surging 36.69 percent from the previous year.

Online transactions through non-bank payment service providers jumped 45.23 percent year on year to 208.07 trillion yuan, said the report.

Meanwhile, payments via mobile banking in rural areas rose 34.26 percent to 52.21 trillion yuan, according to the report. 


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