On the 29th, the China Payment and Clearing Association and the China Banking Association issued the “Initiative to Encourage the Reduction of Payment Fees for Small and Micro Enterprises”, which encourages payment industry players such as commercial banks, non-bank payment institutions, and clearing institutions to continue the standards for some fee reduction projects after the fee reduction measures for small and micro enterprises and individual businesses expire to further support the development of the real economy. Among them, preferential fee reduction measures were continued for items such as bank account opening fees, bank account management fees and annual fees, RMB transfer and remittance fees, annual e-banking fees and management fees, and payment account balance withdrawal fees, and continued fee reduction and concessions.

On the 29th, the China Payment and Clearing Association and the China Banking Association issued the “Initiative to Encourage the Reduction of Payment Fees for Small and Micro Enterprises”, which encourages payment industry players such as commercial banks, non-bank payment institutions, and clearing institutions to continue the standards for some fee reduction projects after the fee reduction measures for small and micro enterprises and individual businesses expire to further support the development of the real economy. Among them, preferential fee reduction measures were continued for items such as bank account opening fees, bank account management fees and annual fees, RMB transfer and remittance fees, annual e-banking fees and management fees, and payment account balance withdrawal fees, and continued fee reduction and concessions.