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Current Situation of China’s Payment System (2006)

.Financial infrastructure for payment system etc. is completing and its promoting function to the social economic development is emerging.

 

Presently, our country has primarily established a payment & liquidation networking system, regarding the modernized payment system of the People’s Bank of China as the core, internal payment systems of financial institution in the banking industry as the basis and the instrument payment system and bankcard payment system as important components, and it’s playing a more and more important role in speeding up circulations of social capitals, improving payment and liquidation efficiencies and facilitating the healthy and stable development of national economy.

In 2006, the modernized payment system and instrument payment system1 of the People’s Bank of China as well as the internal payment systems and bankcard payment systems2 of financial institutions in the banking industry handled 3,818,200,000, RMB 552,763,600,000,000, which was 26.4 times of the total GDP in 2006.

 

 

   Modernized payment system of the People’s Bank of China

   Instrument Payment System

   Internal payment systems of financial institutions in the banking industry

  Bankcard payment system

Fig. 2-1 Diagram of Business Volume of Each System in 2006

 

 

  Modernized payment system of the People’s Bank of China

  Instrument Payment System

  Internal payment systems of financial institutions in the banking industry

  Bankcard payment system 

Fig. 2-2 Diagram of Business Handling Amount of Each System in 2006

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1 only includes the data of local instrument liquidations.

2only refer to the data from bankcard cross-bank-payment system. Data of bankcard internal-payment system has been included in the statistics of internal payment systems of financial institutions in the banking industry.


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