PBC supports use of cash

Source:Global Times Published: 2018/12/5 22:13:42

The People's Bank of China (PBC), the central bank, has launched a crackdown on retail stores that refused to accept cash as payment, in support for older residents who prefer to use cash instead of mobile payments.

The PBC has dealt with 602 cases of cash rejections, including one involving Alibaba's Hema supermarket, and it ordered companies to add cash payment lines, according to financial news website cnstock.com on Wednesday.

Posted in: MARKETS,ECONOMY

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