On March 15, the launch ceremony for Explore China Your Way with UnionPay: China UnionPay Payment Service Optimization - Project Excellence 2024 was held in Shanghai. Mr. Zhang Qingsong, Member of the CPC People's Bank of China (PBOC) Committee and Deputy Governor of the PBOC, and Ms. Xie Dong, Vice Mayor of Shanghai, attended the ceremony and delivered remarks. The event was also attended by Mr. Wang Ping, Deputy Secretary-General of Shanghai Municipal People's Government, Mr. Jin Penghui and Mr. Liu Xingya, Deputy Directors of the Shanghai Head Office of the PBOC, Mr. Wang Sheng, Deputy Director-General of the PBOC Payment and Settlement Department, as well as the leadership from China UnionPay, including Mr. Dong Junfeng, as well as Mr. Shao Fujun, Chairman, and Mr. Cai Jianbo, President. Other members of the audience included representatives from the Shanghai municipal authorities, major Chinese commercial banks, acquirers, merchants, overseas regulators, international partners and other global card schemes
Other members of the audience included representatives from the Shanghai municipal authorities, major Chinese commercial banks, acquirers, merchants, overseas regulators, international partners and other global card schemes
The State Council recently issued guidelines to further optimize payment services in China. The document aims to address the bottlenecks in payment services and improve a multi-layered and diversified payment service system in line with the payment preferences of different user groups. The release of the guidelines fully demonstrates the significance attached by the central government to the development of the payment industry and serves as a roadmap for the future growth of the industry. It is essential for building a payment service system where different payment options develop in parallel and complement each other, and for creating an inclusive and convenient payment environment to facilitate the high-quality development of the payment industry
It is essential for building a payment service system where different payment options develop in parallel and complement each other, and for creating an inclusive and convenient payment environment to facilitate the high-quality development of the payment industry

Source prnewswire