On September 29, the China Payment Clearing Association and the China Banking Association issued an initiative to encourage the reduction of payment processing fees for small and micro enterprises. In response, a number of banks and payment institutions, including ICBC, Agricultural Bank, China UnionPay, Alipay, and WeChat Pay, responded quickly, stating that they will continue to implement measures related to fee reduction and concessions, and cooperate to extend the promotion period until September 2027 to effectively help small and micro players develop.

On September 29, the China Payment Clearing Association and the China Banking Association issued an initiative to encourage the reduction of payment processing fees for small and micro enterprises. In response, a number of banks and payment institutions, including ICBC, Agricultural Bank, China UnionPay, Alipay, and WeChat Pay, responded quickly, stating that they will continue to implement measures related to fee reduction and concessions, and cooperate to extend the promotion period until September 2027 to effectively help small and micro players develop.