China Reports Rise in Non-Cash Payments

The non-cash payments handled by Chinese banks saw an increase during the seven-day Spring Festival holiday, Xinhua reported, citing People’s Bank of China data.

Non-cash payments, involving bank cards, online payment vehicles, commercial papers, credit transfers and other settlements, stood at 14.9 trillion yuan ($2.34 trillion) from January 31 to February 6, up 16.2% year on year.

Read the full report: Xinhua

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.