The Chinese government released on March 7, 2024 the Guidelines of the State Council on Further Improving Payment Services to Make Payment Easier, which highlight six key tasks.
The tasks include expanding the acceptance rate of bank card payments to meet the demands of the elderly and foreigners who use bank cards in various scenarios, continuously insisting on the usage of cash and improving the environment for the use of cash, further enhancing the convenience of mobile payment services and encouraging banks and payment institutions to work with clearing houses and upgrade their services for the convenience of seniors and overseas visitors, ensuring that consumers have the right to choose their preferred payment method, requiring large business districts, tourist attractions and other key locations to support mobile, bank card and cash payments, streamlining account-opening services, and promoting various payment services.