84 pct Chinese can go out without cash: report

Updated 2017-09-24 11:00:50 Xinhua

About 84 percent of the Chinese people can accept going out without any cash, according to a report of mobile payment usage in China released by Chinese mobile payment solution Wechat Pay.

The report 2017 Mobile Payment Usage in China was released Friday during the 3rd Asia-Pacific Regional Forums on Smart Cities and e-Government which was held in the north suburb of Bangkok.

Based on statistics collected from 6,596 users around 324 Chinese cities, the report said 40 percent of Chinese go out with less than 100 Chinese yuan (15.2 U.S. dollars) of cash, even 14 percent of Chinese have already began their cashless life.

Asked whether they can go out of their home without cash, 84 percent said they are "calm" with it while only 4 percent cannot and 12 percent feels concerned.

The report, conducted by Tencent, that developed the famous Chinese social media Wechat and Wechat Pay, said China is a good example in terms of mobile payment development.

"Tech companies in China today have built a holistic eco-system covering financial services including third-party payments, monetary funds, insurance, online banking, credit rating, and consumer loans," the report said, adding that these tools and services would offer a better and more convenient payment experience to consumers, and offer more inclusive financial services, thereby creating a more productive society.

"We are beginning to see both Chinese solutions and models for digitalized financial services increasingly adopted worldwide. Beginning with mobile payments, Chinese FinTech companies will contribute to the global development of financial technologies, and bring digital inclusive finance to all those who are in need," the report put forward.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58March 21 2018 20:56:22

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16March 21 2018 20:56:22

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18March 21 2018 20:56:22

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

China World Business Sports Showbiz Audio
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
China World Fun Travel Entertainment Sports
Beijing Shanghai Guangzhou
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords