On November 29, 2019, the PBC held a video conference exchanging experience on the project for providing convenience in mobile payment. Deputy governor Fan Yifei, also a member of the PBC CPC committee, attended and addressed the meeting.
The meeting noted that the implementation of this project has been gradually expanding from initial pilot 19 cities to all major cities, and begun to penetrate into counties and rural regions. The supply of mobile payment services became more diversified and multi-layered. As service scenarios cover broader areas in close connection with people’s life, such as transportation, catering, retail, education, medical care, and payment to public entities, people’s payment needs are fairly satisfied in a secure, convenient and efficient manner.
In the next step, being committed to providing payment services to the people, and pursuing the development philosophy of openness, cooperation, innovation, and shared benefits, the PBC will press ahead with this project to provide better payment services for the real economy and to improve people’s livelihood. First, by following the leadership of the Party and improving working mechanism, solid measures will be taken to implement this project as one of the major tasks. Second, common concerns and cooperative areas should be identified through concerted efforts and strengthened cooperation with relative departments, local governments and entities in the payment industry. Third, under the principle of inclusive finance and enhanced service for people’s livelihood, ongoing progress will be made for foreigners’ access to domestic payment services. Fourth, risks and potential loopholes will be identified and analyzed, mitigated, and addressed at an earlier stage, by holding the bottom line thinking and improving risk monitoring and identification.
