Current location:politics >>
Shenzhen to enhance foreigners' e
politics21People have gathered around
IntroductionIn a collaborative effort led by major banks, prominent payment apps and card payment giants, new me ...
In a collaborative effort led by major banks, prominent payment apps and card payment giants, new measures aimed at enhancing transactions for foreign visitors in China were introduced on Monday in Shenzhen, Guangdong province.
Unveiled at the 2024 Shenzhen International Shopping Carnival and guided by the People's Bank of China, the initiatives include adjustments to mobile payments to align with foreign visitors' preferences, standardization of small-amount cash transactions, and innovative use of e-CNY hard wallet products with a focus on facilitating bank card payments for large transactions, promoting mobile payments through QR codes for smaller transactions, and ensuring cash payments remain a viable option.
Zhang Qingsong, vice-governor of the PBOC, emphasized the importance of Shenzhen, as a key player in the Guangdong-Hong Kong-Macao Greater Bay Area, in nurturing a premium payment ecosystem and enhancing the overall consumer experience.
Wang Shourui, vice-mayor of Shenzhen, highlighted the city's comprehensive strategy for cross-border payments, which was specifically tailored to meet the needs of Hong Kong residents and other inbound travelers.
"This ongoing initiative guarantees seamless access to cards, codes, and currency," Wang said.
Under the initiative, a series of specialized services such as WeChat payment wallets compatible with foreign cards, digital RMB wallets, payment advisory services, remote assistance, and cash exchange services were introduced.
Meanwhile, Tenpay, Tencent Holdings Ltd's payment affiliate, had simplified the process of linking international cards to WeChat, enabling convenient microtransactions for services like dining and shopping as the company reported a 2-fold daily increase in new card bindings for WeChat Pay in March compared to February.
As China in 2023 witnessed a substantial increase in entries and exits, reaching 424 million — a 266 percent surge compared to 2022, the transaction volume of mobile payments by foreign visitors also surged.
Data from PBOC showed that in the fourth quarter of 2023 alone, there were some 35 million transactions made by overseas visitors to China and the total value of those transactions reached 5 billion yuan ($691.53 million).
Ji Guangheng, president of Shenzhen-based Ping An Bank, emphasized the role of the 2024 Shenzhen International Shopping Carnival in promoting high-level opening-up and driving consumption recovery.
"Ping An Bank is dedicated to developing a payment system that is functional, user-friendly, and attractive by leveraging technological advantages," Ji said.
To do this, banks including Ping An had enhanced cash exchange services by placing ATMs in commercial districts, hotels, tourist attractions, and transportation hubs in Shenzhen. These ATMs support cash withdrawals with foreign cards and offer bilingual operations in Chinese and English.
"The Agricultural Bank of China provides a service allowing me to exchange foreign currency for RMB and give me a currency pocket. Once I get the currency pocket, it's very convenient for me to make payments anywhere, whether I'm at the supermarket or taking the subway. Basically, I can make payments wherever I go," Alla Diasamidce from Georgia, who is working in Shenzhen as a project manager at a logistics and international trading company said.
Tags:
Reprint:Friends are welcome to share on the Internet, but please indicate the source of the article when reprinting it.“Earth Edges news portal”。http://tonga.samacharpostdainik.com/html-5f099968.html
Related articles
The fightback begins: Boss of London's Queen Mary University tells pro
politicsA university boss has been praised after telling a pro-Gaza student mob he will not meet them until ...
【politics】
Read moreXinhua Commentary: Strong spending highlights vitality of China's economy
politicsBEIJING, May 7 (Xinhua) -- China's May Day holiday witnessed a surge in tourism and robust consumer ...
【politics】
Read moreAgricultural collaboration yields rich dividends amid deepening ties
politicsChina has seen a robust trend in imports of high-quality agricultural products from France, driven b ...
【politics】
Read more
Popular articles
- French sports minister calls for sanctions after Monaco player tapes over anti
- 'New way to understand the world' unlocked by quantum researchers
- Last time there was a crisis, the Royal Family time
- Dylan Moore sets career high with 5 RBIs to help Mariners topple Athletics 8
- Here comes the char
- What to expect in Nebraska's presidential and state primaries
Latest articles
Inquiry slams UK authorities for failures that killed thousands in infected blood scandal
Outbound travel boom mirrors China's consumption vibrancy
A top Cambodian opposition politician is charged with inciting disorder for criticizing government
Woman gets 2 life sentences in 2021 murders of father, his longtime girlfriend
Jessica Biel CHOPS her long locks into a bob after book signing in Studio City
China's foreign exchange reserves fall to 3.2 trillion USD in April
LINKS
- Air Vanuatu cancels flights and considers bankruptcy protection
- Box owners at Mexico’s iconic Azteca Stadium refuse to release their seats for the 2026 World Cup
- How collapse of security database sparked ANOTHER e
- Jay Blades is 'taking a break' from TV after shock marriage split and uncle's murder as his co
- Tory exodus gathers pace as ex
- I'm a vet and you should beware of these 4 garden plants that are harmful to dogs
- UK's little
- REVEALED: The truth about the real
- Revealed: It costs £42,000 to support a child through 3 years of university
- Europe Day: Celebrations stay humdrum as all eyes on crucial EU election