Central Bank: Comprehensively Strengthening Payment Supervision and Firmly Holding the Red Line of Reserve Fund Supervision

Recently, the People’s Bank of China held a meeting on payment and settlement work for 2024. The meeting requires us to do a good job in payment and settlement work for 2024, effectively improve our political stance, establish a sound long-term mechanism, and do a good job in the second half of the article on inspection, audit, and rectification. We must adhere to the principle of “payment for the people”, focus on bottlenecks and difficulties, and continuously improve the convenience of payment services. We must conscientiously implement the Regulations on the Supervision and Administration of Non Bank Payment Institutions, comprehensively strengthen payment supervision, strengthen regulatory capacity building, firmly hold onto the red line of reserve fund supervision, and build a healthy and orderly payment market. We need to balance risk prevention and control with optimizing services, and steadily promote precise governance of the “fund chain” involved in fraud and gambling. Payment infrastructure should focus on its main responsibilities and businesses, ensure the performance of the central bank, and maintain a safe bottom line. We need to deepen international cooperation and openness in the payment field, and optimize RMB cross-border payment services. (Central Bank)

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