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. Subsequently, Postbank, China Merchants Bank, Tenpay and Alipay issued announcements one after another in response to the call and extended the promotion period respectively. The details are as follows: The Postbank announced that it will continue to reduce the relevant payment fees after the original fee reduction measures for small and micro enterprises expire on September 30, 2024, for a period of three years, until September 30, 2027; China Merchants Bank will implement a 10% discount on public interbank counter transfer fees of less than 100,000 yuan from September 30, 2024 to September 30, 2027 for small and micro enterprises and individual businesses according to the published price; Tenpay took the initiative to extend the concession policy for one year after the expiration of the fee reduction policy until September 30, 2025, and the financial period expires after one year Pay Tong will make a separate plan based on market conditions. For small and micro enterprises, individual businesses, and individuals with business practices that meet the standards, payment fees are discounted by 10% on the basis of the standards published on WeChat Pay's official website; Alipay will continue to implement the two preferential policies starting September 30, 2024, for one year.

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. Subsequently, Postbank, China Merchants Bank, Tenpay and Alipay issued announcements one after another in response to the call and extended the promotion period respectively. The details are as follows: The Postbank announced that it will continue to reduce the relevant payment fees after the original fee reduction measures for small and micro enterprises expire on September 30, 2024, for a period of three years, until September 30, 2027; China Merchants Bank will implement a 10% discount on public interbank counter transfer fees of less than 100,000 yuan from September 30, 2024 to September 30, 2027 for small and micro enterprises and individual businesses according to the published price; Tenpay took the initiative to extend the concession policy for one year after the expiration of the fee reduction policy until September 30, 2025, and the financial period expires after one year Pay Tong will make a separate plan based on market conditions. For small and micro enterprises, individual businesses, and individuals with business practices that meet the standards, payment fees are discounted by 10% on the basis of the standards published on WeChat Pay's official website; Alipay will continue to implement the two preferential policies starting September 30, 2024, for one year.