PBoC warns businesses not to reject cash

While China is one of the fast movers towards e-payments, the People's Bank of China has told businesses not to reject cash

The People’s Bank of China has warned businesses not to reject cash, in a new move to play down the hype around visions of a cashless society.

The PBoC says people a recomplaining that cash is being rejected in some tourist attractions, restaurants and retailers.

“This undermines the legal status of the renminbi and dampens customers’ choices of payment method,” the Chinese central bank says in an online statement released on July 13. It adds that it is necessary to create a harmonious payment

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: