Saturday, April 17, 2021
Tags Payments sector

Tag: Payments sector

Payments Companies Banned from Servicing Virtual Currency Transactions

Chinese financial regulators are ratcheting up their crackdown on virtual currencies with the launch of a strict prohibition on payments companies providing services for...

PBOC Lifts Centralised Customer Deposit Ratio for Online Payment Companies

The Chinese central bank has announced that it will raise the centralised customer deposit ratio for payment companies to roughly 50% from around 20%...

Central Bank Bans Use of Barcodes by Payments Sector for Securities Business

The Chinese central bank is cracking down on the use of barcode technology technology by payments companies to covertly engage in other forms of...

Central Bank Squeezes Payments Sector with License Cancellations

The People's Bank of China has revoked the licenses of nine non-bank payment organisations for various abuses including misappropriation of funds and license abuses On...

China UnionPay Expands Services to Type II, III Bank Accounts

China UnionPay has just launched a new mechanism for hooking up with type II and type III bank accounts, in a move that is expected to shake up the...

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Actually Used Foreign Investment in China Rises Nearly 40% in First Quarter, New Foreign Invested Enterprises up 47.8%

China has seen a surge in foreign investment in the first quarter of 2021 compared to the same period in 2020, with...

China’s Q1 GDP Surges 18.3% YoY, Two Year Average Growth Rate at 5.0%

Chinese GDP in the first quarter of 2021 has seen a surge compared to the same period last year, given the low...

MLF Rates Remain Unchanged for 13th Consecutive Month as Chinese Monetary Policy Stresses Stability

The Chinese central bank's open market operations (OMO) have kept the rate for medium-term instruments unchanged for over a year, with analysts...

PBOC Reiterates Commitment to Anti-trust Enforcement in Chinese Payments Sector, Development of Cross-border Payments

The Chinese central bank has stressed its commitment to enforcing anti-trust measures in China's payment sector, as well as efforts to improve...