Date
18 October 2017

Electronic payments top 1,000 trillion yuan in 2013, report says

China’s electronic payment industry experienced a bumper year in 2013, with transactions up 27.4 percent at 25.78 billion in volume and increasing 29.46 percent to 1,075.16 trillion yuan (US$177.255 trillion) in value from the previous year, Tencent’s qq.com reported Monday. Online payments accounted for 23.674 billion of the transaction volume and 1,060.78 trillion yuan of the total value, up 23.06 percent and 28.89 percent respectively from 2012. Mobile payment transactions saw the biggest growth, surging 212.86 percent to 1.67 billion in volume and 317.56 percent to 9.64 trillion yuan in value, the report said.

– Contact HKEJ at digest@ejinsight.com

EL/AC/CG

 

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