Over 80% of Chinese Adults Make Use of Electronic Payments
A new report from the Chinese government points to ongoing gains in the use of electronic payments by adult consumers.
The “2019 China Financial Inclusion Development Report” (2019年中国普惠金融发展报告) released by the China Banking and Insurance Regulatory Commission (CBIRC) and the People’s Bank of China (PBOC) indicates that 82.39% of adults across China make use of electronic payments.
In the first half of 2019 banking sector financial institutions processed 43.424 billion mobile payment transactions worth a total of 166.08 trillion yuan.
The report further indicates that as of the end of June 2019 China had 79 ATM machines for every 100,000 people, as compared to the Asia-Pacific average of 63 machines.
China was host to 2356 point of service machines for every 100,000 people, for a doubling compared to the end of 2014.