The People's Bank of China Holds Promotion Meetings for Optimizing Payment Services in Shenzhen and Guangzhou

On April 2, 2024, the People's Bank of China held meetings to promote the optimization of payment services in Shenzhen and Guangzhou, respectively, to strengthen collaboration with various regions, departments, and industries, guide and urge financial institutions in Shenzhen and Guangdong to increase their work efforts, and jointly promote the optimization of payment services. The meeting pointed out that Guangdong Province and Shenzhen are the core engines of the Guangdong Hong Kong Macao Greater Bay Area, as well as important entry points for foreign visitors to China and compatriots from Hong Kong and Macao. Various departments are vigorously promoting the optimization of payment services, providing active support in guidance and coordination, resource investment, and other aspects. Relevant departments and financial institutions are working together to promote collaborative efforts from the supply and demand sides. Some progress has been made in payment aging and internationalization arrangements, building demonstration business districts, and promoting the interconnection of payment tools in the Guangdong Hong Kong Macao Greater Bay Area. Key scenarios such as foreign card acceptance and ATM foreign card withdrawal coverage continue to improve, providing convenience for Hong Kong and Macao residents to enter the country for tourism, work, and life.