China's non-cash payments post steady growth in 2021

BEIJING -- The non-cash payments handled by Chinese banks maintained steady growth last year, with mobile payments sustaining growth momentum, according to a central bank report.

Non-cash payments, involving bank cards, online payment vehicles, commercial papers, credit transfer and other settlements, stood at 4,415.56 trillion yuan ($695.27 trillion) in 2021, up 10.03 percent year-on-year, the People's Bank of China said in the report.

Of the total, mobile payments hit 526.98 trillion yuan, up 21.94 percent year-on -year.

Meanwhile, online payments gained 8.25 percent year-on-year to 2,353.96 trillion yuan, the report showed.

Last year, bank card transactions climbed 12.85 percent from a year earlier to hit 1,002.1 trillion yuan, according to the report.