The China Payment Clearing Association and the China Banking Association jointly initiated an initiative on the 29th to encourage payment industry players to continue some fee reduction project standards after the payment fee reduction measures for small and micro enterprises and individual businesses expire to further support the real economy. Major commercial banks, payment institutions, and clearing institutions all actively participated in the formation of the fee reduction policy arrangement. For example, the Big Four Banks of China Construction Industry and Agriculture and China UnionPay have all extended the preferential period for three years; Alipay, Tenpay, etc. will also continue their fee reduction policies and take more measures to accurately deliver policy dividends to small and micro players.

The China Payment Clearing Association and the China Banking Association jointly initiated an initiative on the 29th to encourage payment industry players to continue some fee reduction project standards after the payment fee reduction measures for small and micro enterprises and individual businesses expire to further support the real economy. Major commercial banks, payment institutions, and clearing institutions all actively participated in the formation of the fee reduction policy arrangement. For example, the Big Four Banks of China Construction Industry and Agriculture and China UnionPay have all extended the preferential period for three years; Alipay, Tenpay, etc. will also continue their fee reduction policies and take more measures to accurately deliver policy dividends to small and micro players.