Director of the Payment and Settlement Department of the People's Bank of China: Will continue to improve the cross-border payment system for RMB

ChainCatcher news, according to a report by Jinshi citing the Financial Times, the head of the Payment and Settlement Department of the People's Bank of China stated that through joint efforts, a diversified payment service system has initially formed, where payment methods such as bank cards, mobile payments, and cash develop in parallel and complement each other, significantly enhancing the payment convenience for foreign personnel in China. The awareness and acceptance of mobile payments among foreign personnel in China are continuously improving, and "scan to pay" has become their main payment method.

According to statistics, in the first half of 2025, the number of active mobile payment users among inbound personnel will exceed 10 million, with transaction volume and amount increasing by 162% and 149% year-on-year, respectively.

Next, the People's Bank of China will continue to improve the cross-border payment system of the renminbi, deepen open cooperation in the field of cross-border payments, ensure the stable operation of payment infrastructure, maintain strict regulation in the payment industry, and consistently optimize payment services to better serve the construction of a strong financial nation and contribute to the realization of Chinese-style modernization.