The Payment System in China
Journal of International Banking Law and Regulation, Vol. 23, No. 3, pp. 168-174, 2008
11 Pages Posted: 19 Aug 2009
Date Written: August 19, 2009
Abstract
Reflects on the development of payment systems in the Chinese banking sector. Outlines the role of the People's Bank of China, the functions of the National Electronic Interbank System, local clearing houses and the intra-bank payment systems of commercial banks, and their benefits and drawbacks. Discusses the growth of the credit card system, the main features of China's National Advanced Payment System (CNAPS), the factors contributing to the success of the payment system and how it might be improved in the future.
Keywords: China, Clearing systems, Credit cards
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