Download → Payment System Report (Q2 2023)

According to payment statistics in Q2 2023 , the payment systems functioned smoothly across the country. Statistics including the number of bank accounts, the volume of non-cash payments and the transaction volume in payment systems maintained growth in general.

I. Bank Accounts

The number of bank accounts remained stable. At end-Q2, a total of 14.287 billion bank accounts 2 had been opened nationwide, increasing by 0.46 percent quarter on quarter (q-o-q).

The number of bank accounts opened by institutions edged up. At end-Q2, bank accounts opened by institutions nationwide registered 97.7134 million, increasing by 2.67 percent q-o-q. Specifically, 68.7191 million were basic deposit accounts, 23.9021 million were general deposit accounts, 4.8908 million were special deposit accounts, and 201,500 were temporary deposit accounts, accounting for 70.33 percent, 24.46 percent, 5.01 percent and 0.21 percent, respectively, of the total number of bank accounts held by institutions.

The number of individual bank accounts remained steady. At end-Q2, bank accounts opened by individuals totaled 14.189 billion nationwide, increasing by 0.44 percent q-o-q.

II. Non-cash Payment

In Q2, a total of 130.227 billion non-cash payment transactions 3 with an amount of RMB1308.83 trillion were processed by banks across the country, increasing by 17.90 percent and 12.28 percent year on year (y-o-y), respectively.

(I) Bank Cards

The number of bank cards remained stable. At end-Q2, the number of bankcards opened increased by 0.50 percent q-o-q to 9.621 billion nationwide. Specifically, debit cards increased by 0.59 percent q-o-q to 8.834 billion; credit cards and debit-credit integrated cards decreased by 0.59 percent q-o-q to 786 million. The number of bankcards per capita 4 was 6.81, among which the per capita number of credit cards and debit-credit integrated cards recorded 0.56.

The number of merchants connected to the UnionPay inter-bank payment system and POS terminals connected to the system witnessed a small growth. At end-Q2, merchants connected to the UnionPay inter-bank payment system (UnionPay system) and POS 5 terminals connected to the UnionPay system recorded 27.7447 million and 35.4938 million, up 2.1309 million, and 2.3965 million from end-Q1 2023, respectively. ATM6 terminals registered 862,800, down 20,000 q-o-q. The number of POS terminals connected to the UnionPay system per 10,000 persons recorded 251.42, increasing by 7.24 percent q-o-q, and the number of ATMs per 10,000 persons recorded 6.11, decreasing by 2.26 percent q.

Bankcard transactions grew fast. In Q2, a total of 127.397 billion bankcard transactions 7 with an amount of RMB271.76 trillion were processed across the country, increasing by 18.07 percent and 11.35 percent y-o-y, respectively. Specifically, cash deposits recorded 1.164 billion, or RMB8.60 trillion; cash withdrawals recorded 1.458 billion, or RMB7.80 trillion; transfers recorded 52.344 billion, or RMB222.48 trillion; and consumer payments recorded 72.43 billion, or RMB32.89 trillion. The consumer payment per bankcard registered RMB3,418.35 and that per transaction recorded RMB454.

The total bankcard credit line remained generally stable. At end-Q2 , the total bankcard credit line 8 was RMB22.31 trillion, increasing by 0.59 percent q-o-q. The outstanding balance of bankcard credit was RMB8.55 trillion, decreasing by 0.17 percent q-o-q. The credit line per bankcard was RMB28,400, with the credit utilization rate 9 standing at 38.33 percent. The credit card payment overdue by half a year or more 10 totaled RMB89.646 billion, decreasing by 9.45 percent q-o-q，accounting for 1.05 percent of the total outstanding balance.

(II) Commercial Papers

The transaction volume of commercial papers continued to declined. In Q2, transactions of commercial papers totaled 21.7114 million or RMB22.77 trillion nationwide, decreasing by 8.41 percent and 7.80 percent y-o-y, respectively. Specifically, there were 14.8159 million transactions or RMB15.73 trillion of checks, decreasing by 10.98 percent and 15.33 percent y-o-y, respectively; 6.8191 million actual settlements or RMB6.97 trillion of commercial drafts, with the former decreasing by 2.43 percent and the latter increasing by 15.47 percent y-o-y, respectively; 40,800 transactions or RMB24.143 billion of bank drafts, with the former increasing by 14.61 percent and the latter decreasing by 16.82 percent y-o-y, respectively; 35,600 transactions or RMB53.192 billion of bank promissory notes, decreasing by 9.71 percent and 11.71 percent y-o-y, respectively.

Transactions processed by the electronic commercial draft system11 edged up. Q2 saw the following transactions processed by the electronic commercial draft system: 6.8143 million or RMB6.54 trillion acceptances, with the former increasing by 4.41 percent and the latter decreasing by 7.61 percent y-o-y, respectively; 2.9075 million or RMB5.05 trillion discounts, decreasing by 1.08 percent and 6.94 percent y-o-y, respectively; 5.0522 million or RMB17.39 trillion interbank discounts, decreasing by 13.00 percent and 0.14 percent y-o-y, respectively; 1.3791 million or RMB8.73 trillion pledged repos, increasing by 49.95 percent and 21.17 percent y-o-y, respectively; and 85,100 or RMB470.285 billion outright repos, with the former increasing by 0.80 percent and the latter decreasing by 9.03 percent y-o-y, respectively.

(III) Credit Transfers and Other Settlement Transactions

The volume of credit transfers and other settlement transactions increased. In Q2, the number of settlement transactions including credit transfer, direct debit, collection with acceptance, and domestic L/C totaled 2.808 billion with an amount of RMB1014.29 trillion, increasing by 10.92 percent and 13.08 percent y-o-y, respectively. In particular, the credit transfer transactions recorded 2.708 billion, totaling RMB981.60 trillion.

(IV) Electronic Payment

The volume of electronic transactions processed by commercial banks increased. In Q2, banks processed a total of 73.578 billion electronic payment transactions 12 in RMB842.19 trillion, increasing by 8.05 percent and 11.65 percent y-o-y, respectively. Specifically, the transaction volume of online payments decreased by 5.79 percent y-o-y to 23.645 billion and the total value increased by 11.82 percent y-o-y to RMB685.19 trillion; the transaction volume of mobile payments increased by 19.52 percent y-o-y to 46.042 billion and the total value increased 14.29 percent y-o-y to RMB138.96 trillion; the transaction volume of phone payment decreased by 13.74 percent y-o-y to 53 million and the total value decreased by 23.15 percent y-o-y to RMB2.21 trillion.

In Q2, non-bank payment institutions processed a total of 308.257 billion online payment transactions with an amount of RMB82.74 trillion, increasing by 18.38 percent and 16.07 percent y-o-y, respectively, on a comparative basis.