CHINA China's non-cash payments maintain steady growth in Q2

CHINA

China's non-cash payments maintain steady growth in Q2

Xinhua

17:20, September 24, 2022

BEIJING, Sept. 24 (Xinhua) -- Non-cash payments handled by Chinese banks continued stable expansion in the second quarter of the year, with electronic payments sustaining growth momentum, a central bank report said.

Non-cash payments via bank cards, electronic payment vehicles, commercial papers, credit transfers and other settlements, hit 1,165.73 trillion yuan (166.72 trillion U.S. dollars) in the period, up 7.86 percent year on year, according to the report from the People's Bank of China.

Electronic payments took a lion's share of the non-cash payments, with a total transaction value of 754.33 trillion yuan, the report showed.

Among the electronic payment vehicles, online payments rose 1.25 percent year on year to 612.77 trillion yuan, while mobile payments climbed 3.8 percent from the same period last year to 121.58 trillion yuan.

In the second quarter, bank card transactions also went up 1.58 percent year on year to 244.05 trillion yuan, according to the report.

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