China Strengthens Supervision and Interconnection of Payment Environment
The People’s Bank of China (PBoC) has punished 1,436 banks and payment institutions and issued fines totaling 1.13 billion yuan ($176 million) since 2016, said Fan Yifei, the Deputy Governor of PBoC at the 10th China Payment and Clearing Forum held at the end of September.
In addition, the PBoC has guided 22 payment institutions …
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