Reuters reports that China's central bank said that it would lower payment fees for small firms from September 30, including for bank account services, yuan settlement and electronic banking.
China has vowed repeatedly to keep supporting small businesses, and continue targeted tax and fee cuts this year in the wake of the pandemic. The People's Bank of China (PBOC) will also reduce interbank ATM fees.
In total, the fee reductions are estimated to be worth 24 billion yuan ($3.72 billion) per year, it added in a joint statement with the country's banking regulator, market regulator and state planner.
© 2000-2022. All rights reserved.
This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at firstname.lastname@example.org.