Wide adoption of mobile payment by China’s small businesses have lifted transaction volume to record levels. Photo: Xinhua

As China goes increasingly cashless, PBOC says cash payment is still alive

The banking regulator reminds businesses to accept cash payments even as mobile payment transactions reached a record US$12.8 trillion

Topic |   Mobile payments

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Wide adoption of mobile payment by China’s small businesses have lifted transaction volume to record levels. Photo: Xinhua
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Amanda Lee

Amanda Lee

Beijing-based correspondent Amanda Lee covers markets and the economy for the Post, with an interest in China's economic and social landscape. A graduate of the London School of Economics, she joined the Post in 2017 and has previously worked for Thomson Reuters and Forbes.