To thoroughly implement the decisions and arrangements made by the Communist Party of China (CPC) Central Committee and the State Council and the requirements stipulated in the Opinions of the General Office of the State Council on Further Optimizing Payment Services to Facilitate Payments (hereinafter referred to as the Opinions), the People’s Bank of China (PBOC) held a meeting on optimizing payment services in Hangzhou, Zhejiang Province on April 11, 2024, aiming to strengthen cooperation with various departments and industries, and to guide and urge financial institutions in Zhejiang to intensify their efforts to jointly advance the optimization of payment services. PBOC Deputy Governor Zhang Qingsong, and Cai Xiujun, Vice Chairman of Zhejiang Provincial Committee of the Chinese People’s Political Consultative Conference (CPPCC), attended and addressed the meeting.
It was stressed at the meeting that Zhejiang Province boasts prosperous external economic activities, and it has maintained close economic and trading exchanges with overseas countries and regions. To this end, making solid progress in optimizing payment services is of great significance to improving the business environment and achieving high-level opening-up. With vigorous support from the Zhejiang Provincial Committee and the Zhejiang Provincial Government, the province summed up the successful experience of guaranteeing financial services for the 19th Asian Games, formulated detailed work plans to implement the Opinions, and, based on local reality, innovatively launched eight “high-quality service areas” with facilitated payment services, including Hangzhou Hubin Business District and Yiwu market, a shopping hub for China’s small commodities. It has made further explorations in creating a diversified and inclusive payment service environment. Focusing on catering, accommodation, transport and other scenarios, Zhejiang Province has been continuously optimizing payment services, and has achieved positive results in a short period of time.
It was required at the meeting that the PBOC Zhejiang Provincial Branch should earnestly assume the responsibility of taking the lead in overall planning, and further enhance coordination and cooperation with competent agencies of commerce, culture and tourism, and transportation. Also, the Branch should make significant efforts in supply and demand matching for payment services by combining effective governments and efficient markets. Financial institutions in Zhejiang should conscientiously implement the requirements of the Opinions, and adopt a goal-oriented and problem-oriented approach to keep a close eye on key tasks, increase the input of resources, and accelerate the implementation of various tasks by focusing on the problems and challenges of payment services. These institutions should continue to make efforts in key areas such as the acceptance of overseas bank cards and cash services, so as to continuously build a payment system in which multiple modes of payment can achieve parallel and mutually complementary development, effectively enhance the compatibility and inclusiveness of various payment services, and provide higher-quality, more efficient and more convenient payment services for elderly people, overseas visitors to China and other groups.
Attendees included officials from relevant departments of Zhejiang Provincial Government, relevant departments of the PBOC, PBOC Zhejiang Provincial Branch, some commercial banks, payment institutions, clearing institutions, and related industries and enterprises.
