On July 10, the Shanghai Head Office of the People's Bank of China held its Q3 2024 press conference.
In the first six months, various payment service entities in Shanghai facilitated over 22 million transactions for foreigners, totaling 7.8 billion yuan. This marks a year-on-year increase of 700% in transaction volume and 120% in transaction value.
Regarding foreign card acceptance, the first half of 2024 saw over 1.9 million transactions worth 3.5 billion yuan, up by 120% and 80%, respectively, compared to the same period last year. In terms of cash services, there were 750,000 transactions for foreign card cash withdrawals and foreign currency exchanges, amounting to nearly 2 billion yuan, reflecting increases of 140% in transaction volume and 50% in transaction value from the previous year. Mobile payment services also saw a substantial rise. Transactions via platforms such as Alipay, Tenpay, and UnionPay International, including "foreign card domestic binding" and "foreign package domestic use," totaled nearly 19.5 million transactions worth 2.3 billion yuan, up by 1130% and 880%, respectively, compared to the first half of 2023.
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