The Central Bank Has Introduced Policies To Promote The Development Of Electronic Payment.

In August 23rd, the Central Bank News said, the next step,

The central bank revealed that in from August 2nd to 4th this year, the people's Bank invited relevant agencies to form a special research team.

Implement specific policies to promote the development of electronic payment, provide necessary policy support for the development of electronic payment; closely cooperate with relevant departments and intensify the crackdown on illegal and criminal activities such as pirate card, phishing, telecommunications fraud, gambling related websites, etc.; further improve the electronic payment interbank settlement system, provide more powerful support and more convenient platform for the development of electronic payment business of commercial banks and non-financial institutions; encourage electronic payment service providers such as commercial banks and electronic payment service enterprises to continuously explore and innovate, guide the public and various economic entities to choose and use new electronic payment tools, cultivate advanced payment culture and payment habits; strengthen the self-discipline management and risk management of enterprises through the establishment and improvement of relevant systems, safeguard fair competition in the market, and effectively protect consumers' rights and interests. Liu Shiyu, vice president of the central bank, stressed that next step, the PBC will work out the "12th Five-Year plan" of China's payment system as soon as possible with relevant departments.

China's third party e-payment market reached 454 billion 600 million yuan in the first half of 2010, an increase of 33% over the same period last year, an increase of 89% over the same period last year, according to the latest data of IT consulting firm Analysys International.