[Report from the press conference of the State Council Information Office].
Guangming ** reporter Wen Yuan.
Recently, the Regulations on the Supervision and Administration of Non-bank Payment Institutions (hereinafter referred to as the "Regulations") were officially promulgated and will come into force on May 1, 2024. At the regular policy briefing held on December 28, Zhang Qingsong, deputy governor of the People's Bank of China, said that the promulgation of the "Regulations" further clarified the rights, obligations and responsibilities of all parties in the payment industry, gave the regulatory authorities administrative powers according to law, effectively consolidated the legal foundation for the standardized and healthy development of the industry, and marked that the development of the payment industry has entered a new stage.
After decades of development, China has established a wide-coverage, safe and efficient payment and clearing system centered on the first-class bank payment and clearing system, with the participation of commercial banks, clearing institutions, and non-bank payment institutions. At present, more than 4,000 commercial banks and more than 180 payment institutions have effectively met the needs of 1The payment needs of 600 million business entities and hundreds of millions of consumers. China's personal bank account ownership rate has exceeded 95%, higher than the average level of middle- and high-income economies, and the mobile payment penetration rate has reached 86%, ranking first in the world.
Zhang Qingsong introduced that the "Regulations" issued this time are applicable to payment institutions whose main business is to provide small-amount and convenient services. According to statistics, the annual number of transactions of these payment institutions is about 1 trillion yuan, with an average transaction amount of 330 yuan, which is closely related to the business activities of business entities and the daily life of the public, and is of great significance to the establishment of a stable and adequate supervision and management framework.
In order to guide payment institutions to further improve the quality and efficiency of serving the real economy, the "Regulations" have provided guidance from many aspects: First, it emphasizes the core positioning of payment institutions to serve the real economy. It is clarified that payment institutions shall conduct business with the purpose of providing small-amount and convenient payment services;Its supervision and management should be carried out around whether the goal of serving the real economy is achieved. The second is to appropriately raise the registered capital requirements of payment institutions, requiring them to have business systems, facilities and technologies that meet the requirements, as well as governance structure, internal control and risk management capabilities. The third is to adhere to the "return to the origin of payment business". Guide payment institutions to focus on and improve service levels, conduct business in accordance with the approved business type and geographical scope, and must not engage in other businesses that require approval in accordance with law without approval. Fourth, encourage payment institutions to cooperate with banks. It is necessary not only to give full play to the advantages of payment institutions in terms of wide access to users and convenience of services, but also to encourage banks to play an important role in ensuring the safety of funds and improving the efficiency of capital use. Fifth, we are committed to maintaining the order of fair competition. It is emphasized that payment institutions shall not carry out monopolistic or unfair competition behaviors that impede the order of fair competition in the market. Sixth, a number of regulatory red lines have been clarified to prevent illegal operations and promote the healthy development of the industry.
Li Mingzheng, director of the Second Legislative Bureau of the Ministry of Justice, introduced that the "Regulations" have a total of six chapters and 60 articles, which mainly include: First, clarifying the definition and establishment license of non-bank payment institutions. The second is to improve the rules of payment business. The third is to protect the legitimate rights and interests of users. Fourth, clarify regulatory responsibilities and laws.
Liu Xiaohong, head of the Law Department of the People's Bank of China, said that the People's Bank of China actively practices the concept of "payment for the people" and attaches great importance to the protection of the legitimate rights and interests of users in the payment field. The "Regulations" focus on the protection of the legitimate rights and interests of users from four aspects, including clarifying the principle of fairness in payment service agreements and protecting users' right to fair trade;Strengthen the management of reserves to protect the safety of users' funds and property;Clarify the rules for the processing of user information, and protect the user's right to know and the right to choose;Promote the establishment of diversified dispute resolution mechanisms to ensure redress channels for users' rights.
Bright**" December 29, 2023 04 edition).
*: Guangming Network - "Bright **".