Current location:business >>
Simplified payments to facilitate foreign visitors
business91334People have gathered around
IntroductionChina has unveiled a guideline to improve payment services, which experts say underscores top policy ...
China has unveiled a guideline to improve payment services, which experts say underscores top policymakers' strengthened focus on addressing any payment difficulties facing international visitors as the country aims to boost inbound tourism and attract foreign investment.
Efforts in this regard are expected to accelerate and reap concrete advances this year, they said, with major Chinese payment platforms having quintupled the transaction cap for foreigners' mobile payments.
The General Office of the State Council, China's Cabinet, published a guideline on improving payment services and enhancing payment convenience on Thursday as part of the country's high-level opening-up agenda — a move to better meet the diversified payment needs of the elderly and foreign visitors.
The guideline, approved by the State Council Executive Meeting on Feb 23, called for coordinated efforts among authorities to promote the acceptance of foreign bank cards, guarantee the use of cash, improve mobile payment convenience, further protect consumers' rights to choose payment methods and optimize account services.
The move comes as China intensifies efforts to tackle payment difficulties faced by some foreign visitors who rely on bank cards or cash for transactions, whereas mobile payment habits predominate in China.
The People's Bank of China, the country's central bank, said that while mobile payments have played an important role in improving transaction efficiency, it is also necessary to improve the inclusiveness of payment services to cater to a broader range of consumers.
The guideline also called for efforts to make mobile payments more user-friendly for foreign visitors, with major payment platforms having stepped up efforts to simplify payment processes for tourists from afar.
Both Weixin Pay — a mobile payment service within the Weixin app designed for users on the Chinese mainland — and Alipay have raised the single transaction limit of mobile payments for foreigners in China from $1,000 to $5,000 and lifted the annual cumulative transaction limit from $10,000 to $50,000.
Tech giant Tencent Holdings is also working to facilitate foreign visitors making small-scale payments through Weixin Pay without the need to link to international bank cards.
Liu Chunsheng, an associate professor at the Central University of Finance and Economics' School of International Trade and Economics, said the guideline marks a significant step in China's efforts to create a more foreigner-friendly payment environment.
Efforts to improve foreigners' payment experiences in key scenarios, such as transport and dining, will help them better adapt to life and work in China, which is conducive to attracting more foreigners to China and promoting international economic exchanges, he said.
This year's Government Work Report, submitted on Tuesday for deliberation, has pledged efforts to make it easier for foreigners to work, study and travel in China.
Jin Li, vice-president of Southern University of Science and Technology and a member of the 14th National Committee of the Chinese People's Political Consultative Conference — the country's top political advisory body — underscored the need to better inform potential overseas tourists to China about how to use mobile payment modalities in the country.
"Significant differences exist in payment habits between local Chinese residents and foreign visitors," Jin said. "Therefore, I suggest intensifying the promotion of Chinese mobile payments abroad, offering foreign tourists a better understanding of how to make payments in China in advance."
Tags:
Reprint:Friends are welcome to share on the Internet, but please indicate the source of the article when reprinting it.“Worldly Wisdom news portal”。http://sierraleone.downmusic.org/news-39b599890.html
Related articles
Migrant camps spring up in gentrifying neighborhood with a Soho House and caviar
businessA Mexico City neighborhood, whose economy has flourished with lavish restaurants and immersive shopp ...
【business】
Read moreIraq signs MoU with German, U.S. companies on associated gas utilization
businessBAGHDAD, March 31 (Xinhua) -- The Iraqi Oil Ministry on Sunday signed a memorandum of understanding ...
【business】
Read moreCao Maoyuan: Chinese athlete shines as first gold medalist at Chengdu Universiade
business(People's Daily Online) 09:21, August 09, 2023In a moment of triumph and exuberance, 26-year-old Chi ...
【business】
Read more
Popular articles
Latest articles
Worker killed, another injured, when truck crashes through guardrail along California freeway
Putin says Moscow terror attack committed by radical Islamists, more questions remain
European Parliament adopts new migration, asylum pact
Rescued man from Kinmen fabricates false occupational info: Spokesperson
Where were Kanye West and Bianca Censori's Met Gala invites? As his ex
Rwanda makes progress in fight against tuberculosis: official
LINKS
- Star guard Kadary Richmond transfers to St. John's from Big East rival Seton Hall
- Scientists discover remains of a 'buried planet' deep inside EARTH
- Chrissy Teigen reveals NECK BRACE after injuring herself during headstand
- Illegal migrants cost the taxpayer £14 billion every year, says former minister Dame Andrea Jenkyns
- Shanghai rout Zhejiang as unbeaten run reaches 10
- Dortmund's Reus hopes to sign off in style
- 'China is behind this': MPs lash out at Beijing over cyber
- Kenvue, Crocs rise; Disney, Teradata fall, Tuesday, 5/7/2024
- Rita Ora coyly covers her breasts as she and husband Taika Waititi return to their hotel at 5am
- I was left with second