The People's Bank of China: Overall Operation of Payment System in 2018

The overall operation of the payment system in 2018. Data show that in 2018, mobile payment business volume grew rapidly, with 57.013 billion online payment transactions and a total amount of 21.263 trillion yuan, up 17.36% and 2.47% year-on-year respectively.

The statistics of payment business in 2018 show that the national payment system operates smoothly, the scale of social capital transactions continues to expand, and the payment business volume maintains a steady growth. The national banking financial institutions handled a total of 220.312 billion non-cash payment transactions with a total amount of 376.867 trillion yuan, up 36.94% and 0.23% year-on-year respectively.

In terms of bank cards, the average number of bank cards held by the national average person was 5.46, a year-on-year increase of 12.91%. Among them, the average number of credit cards and combined credit and debit cards held by the average person was 0.49, a year-on-year increase of 16.11%. As of the end of 2018, the number of bank cards in use nationwide was 7.597 billion, a year-on-year increase of 13.51%. Among them, the number of debit cards in use was 6.911 billion, a year-on-year increase of 13.20%; the number of credit cards and combined credit and debit cards in use totaled 686 million, a year-on-year increase of 16.73%.

In 2018, there were 6210.359 billion bank card transactions nationwide, with a total amount of 862.10 trillion yuan, up 40.77% and 13.19% year-on-year, respectively. The daily average was 576 million transactions, with a total amount of 2.36 trillion yuan. Among them, there were 7.863 billion bank card deposits, with a total amount of 60.03 trillion yuan, down 18.44% and 11.62% year-on-year, respectively.

In 2018, the average amount of bank card consumption was 12,200 yuan, up 19.06% year-on-year; the average amount of bank card consumption was 943.28 yuan, down 19.46% year-on-year. The central bank also said that the scale of bank card credit has grown moderately, and the proportion of total credit that is overdue for half a year has decreased. As of the end of 2018, the total amount of bank card credit was 15.40 trillion yuan, up 23.40% year-on-year; the outstanding balance of bank card credit was 6.85 trillion yuan, up 23.33% year-on-year. The average credit limit of bank cards is 22,400 yuan, and the credit utilization rate is 844.51%.

In 2018, banking financial institutions processed 175.192 billion electronic payment transactions with a total amount of 253.97 trillion yuan. Among them, online payment transactions amounted to 57.013 billion yuan, up 17.36% and 2.47% year-on-year respectively; mobile payment transactions amounted to 60.531 billion yuan, up 61.19% and 36.69% year-on-year respectively. In 2018, non-bank payment institutions processed 10530.61 billion online payment transactions with a total amount of 208.07 trillion yuan, up 85.05% and 45.23% year-on-year respectively.

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