To thoroughly implement the decisions and arrangements made by the Communist Party of China (CPC) Central Committee and the State Council and to carry out 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 Fuzhou and Xiamen on May 13, 2024, aiming to strengthen cooperation with various departments and industries, and to urge financial institutions in Fujian to intensify their efforts to further improve the payment services for elderly people, overseas visitors to China and other groups, and better meet the payment needs of Taiwan compatriots and enterprises. Zhang Qingsong, Deputy Governor of the PBOC, Lin Ruiliang, Vice Governor of the People’s Government of Fujian Province, and Zhuang Rongliang, Vice Mayor of the Xiamen Municipal People’s Government, attended and addressed the meeting.
It was noted at the meeting that since early this year, the PBOC has taken the optimization of payment services as a major task and coordinated with all parties to encourage commercial banks and payment institutions to increase the input of resources and intensify their efforts. As a result, remarkable results have been achieved. According to statistics, in April 2024, the number and volume of foreign card transactions at POS machines doubled from February. More than 2 million overseas visitors used mobile payment, with both the number and volume of transactions increasing by more than 80 percent from February. Cash services in commercial banks continue to improve and cash remains a backstop payment option.
It was stressed at the meeting that Fujian is the starting point of the ancient Maritime Silk Road and a demonstration zone for the integrated development across the Taiwan Strait, and the Xiamen Special Economic Zone is among China’s first four special economic zones. To this end, it is of great significance to make solid progress in optimizing payment services. With great efforts made by the Fujian Provincial Government and the Xiamen Municipal Government, a total of 18 demonstration scenes for payment facilitation have been set up in key venues such as Fuzhou Changle International Airport, Three Lanes and Seven Alleys, Wutong Ferry Terminal, and Gulangyu Island. In addition, the innovative “Fulv Pass Card” has been launched, further improving the accessibility and convenience of bank card acceptance, cash payment, mobile payment and account services, thereby continuously optimizing the payment service environment.
It was required at the meeting that all relevant parties should continue to make headway with the current work and increase the input of resources. Moreover, they should adopt a realistic and problem-oriented approach to provide more targeted and sustainable payment services, so as to effectively meet the diverse payment needs of different groups. The PBOC Fujian Provincial Branch and Xiamen Branch are required to further strengthen cross-departmental cooperation, and encourage financial institutions in Fujian to explore and implement payment service measures with Fujian characteristics centering on key tasks, key scenes and weak links. To better meet the payment needs of elderly people, Taiwan compatriots and enterprises, and other groups, financial institutions should continuously upgrade their bank card services, facilitate cash use, and improve mobile payment and account services, thus greatly contributing to the high-quality development of Fujian Province and the integrated development across the Taiwan Strait.
Attendees included officials from relevant government departments in Fujian Province, Fuzhou City and Xiamen City, relevant departments of the PBOC, PBOC Fujian Provincial Branch and Xiamen Branch, relevant departments of the State Administration of Foreign Exchange, heads of some commercial banks, non-bank payment institutions, clearing institutions, and related industries and enterprises, as well as representatives of Taiwan enterprises and compatriots, and overseas Chinese.
