Current location:International Issue news portal > business
China details regulations on non
International Issue news portal2024-04-25 20:31:52【business】8People have gathered around
IntroductionBEIJING, April 22 (Xinhua) -- The People's Bank of China on Monday began to solicit public opinion o
BEIJING, April 22 (Xinhua) -- The People's Bank of China on Monday began to solicit public opinion on the detailed rules regulating the non-bank payment institutions, as a part of efforts to enhance their supervision and management.
The document aims to detail the regulations for the supervision and administration of non-bank payment institutions, which were issued by the State Council last December.
The document offers further clarification on key concepts, such as major shareholders and actual controllers, as outlined in the regulations, and details administrative licensing procedures for the non-bank payment institutions.
Through the move, the central bank hopes to bolster transparency and openness in the administrative process and foster greater efficiency in payment institutions so as to create a law-based business environment.
In protecting the legal rights and interests of payment users, it specifies requirements regarding the retention period of user data and transaction records, as well as adjustments to fees.
In recent years, China has witnessed remarkable growth in its non-bank payment industry. Data shows that over 1 trillion transactions are made in the country via non-bank payment institutions annually, with a total value at approximately 400 trillion yuan (about 56.3 trillion U.S. dollars).
(Editor:Fu Bo)
Address of this article:http://www.olivelawfirm.net/tag/auto-collision-lawyer/
Very good!(2)
Related articles
- More cows are being tested and tracked for bird flu. Here's what that means
- Chinese scientists use machine learning for precise Antarctic sea ice prediction
- China's Women Olympic Athletes Honored
- China Launches Women Volunteers' Service Campaign
- Biden administration is announcing plans for up to 12 lease sales for offshore wind energy
- Draft judicial explanation on marriage released for public review
- Shen Yueyue Stresses Fostering Virtue Through Education, Making More Contributions to Nurturing All
- State Councilor Stresses Stable Employment, Supporting Women's Entrepreneurship
- Taylor Swift's Tortured Poets Department becomes Spotify's most
- More Benefits to Chinese Women over Past Decade
Popular articles
Recommended
Biden blames Trump for Florida's six
Chinese State Councilor Meets Thai Princess Sirindhorn
First National Family Education Publicity Week Launched
China, EU Agree to Promote People
Mississippi city settles lawsuit filed by family of man who died after police pulled him from car
ACWF President Stresses Passing on Revolutionary Spirit from Generation to Generation
Huang Meets UN Under
New Journey, New Achievements — An Overview of Achievements in China Women's Cause in the New Era
Links
- Surgeon performs simulated breast cancer surgery on a balloon
- Index reflects nation's strength in AI governance
- East China’s Jinan endeavors to spur growth of AI industry
- China's beverage industry records solid growth in 2021
- East China’s Jinan endeavors to spur growth of AI industry
- Innovative former livestreamer assembles striking pieces of electronics art
- Holiday to spur recovery in tourism
- Huawei launches HarmonyOS 2 for smartphones
- China mulls sending spacecraft to edge of solar system: scientist
- Index reflects nation's strength in AI governance