Core Insights - Shenzhen is advancing the construction of a comprehensive payment demonstration zone to meet the growing demand for payment services, with non-cash payment transactions expected to reach 21.9 billion by 2025, a 15% year-on-year increase, and transaction amounts projected to hit 2.5 trillion yuan, up 10% year-on-year [1][7] Group 1: Payment Trends - By 2025, the overall consumption amount in Shenzhen is expected to grow by 10%, driven by effective consumption promotion policies [1][7] - The inbound tourism market is becoming more active, with a deepening trend of integration between Shenzhen and Hong Kong, and foreign consumers from South Korea, Singapore, and the United States ranking among the top three [1][7] - The acceptance of mobile payment methods is continuously increasing, supported by traditional payment tools, enhancing the overall consumer experience [1][7] Group 2: Inbound Consumer Growth - In 2025, the total number of inbound travelers in Shenzhen is projected to reach 274 million, a 14% increase year-on-year, marking a historical high [2][8] - Non-cash payment transactions by foreign individuals in Shenzhen are expected to reach 190 million, with a transaction amount of 26.46 billion yuan, reflecting year-on-year growth of 28% and 31% respectively [2][8] Group 3: Tax Refunds and Consumer Behavior - Shenzhen is expected to process 68,000 tax refund transactions in 2025, a staggering 13-fold increase year-on-year, with the total refund amount growing 2.4 times [4][10] - The number of stores eligible for tax refunds has surpassed 2,000, with over 1,000 new stores added in 2025 [4][10] - The majority of foreign consumer spending is concentrated in supermarkets and dining, accounting for over 70% of total spending, with significant growth in the tourism and entertainment sectors [5][11] Group 4: Payment Methods - The acceptance of mobile payment among foreign consumers has significantly increased, with over 70% of transaction amounts attributed to mobile payments [5][11] - Transactions using foreign cards have seen notable growth, with the number of transactions increasing by 48.2% and the transaction amount by 51.9% [5][11] - The environment for accepting foreign cards in Shenzhen is improving, leading to a 45% year-on-year increase in the transaction amount for UnionPay and international cards [5][11]

2026年2月1日起，中国人民银行等3部门制定的《人民币现金收付及服务规定》正式实施。针对近年来 社会上频发的拒收现金现象，新规直击痛点，明确收费单位、经营主体不得对现金支付采取歧视性措 施，同时要求银行业金融机构采取措施以提高现金服务质量。这既维护了人民币法定货币地位，又有助 于满足社会公众多样化支付服务需求，构建多元支付方式共同发展下的现金便利流通环境。 近年来，随着数字经济的快速发展，我国移动支付等非现金支付方式以其便捷高效的优势快速涌入并占 据支付交易市场。非现金支付更便利了，现金支付却变难了。部分消费者在餐饮、零售等商户消费时被 拒收人民币现金的事件在各地时有发生，这既损害了人民币的法定地位，更损害了广大消费者对支付方 式的自主选择权，引起广泛关注。 我国幅员辽阔、人口众多、地域差异大、城乡发展不平衡，消费者支付需求多种多样，现金支付习惯和 偏好仍然广泛存在，尤其是一部分老年人难以适应电子支付方式。中国人民银行此前组织的抽样调查显 示，老年人中经常使用现金的人数占比超过75%。其中，县域老年人经常使用现金人数占比为80.4%， 城市地区老年人经常使用现金人数占比为67.6%。此外，批发零售等行业的小 ...

2026年2月1日起，中国人民银行等3部门制定的《人民币现金收付及服务规定》正式实施。针对近年来 社会上频发的拒收现金现象，新规直击痛点，明确收费单位、经营主体不得对现金支付采取歧视性措 施，同时要求银行业金融机构采取措施以提高现金服务质量。这既维护了人民币法定货币地位，又有助 于满足社会公众多样化支付服务需求，构建多元支付方式共同发展下的现金便利流通环境。 近年来，随着数字经济的快速发展，我国移动支付等非现金支付方式以其便捷高效的优势快速涌入并占 据支付交易市场。非现金支付更便利了，现金支付却变难了。部分消费者在餐饮、零售等商户消费时被 拒收人民币现金的事件在各地时有发生，这既损害了人民币的法定地位，更损害了广大消费者对支付方 式的自主选择权，引起广泛关注。 我国幅员辽阔、人口众多、地域差异大、城乡发展不平衡，消费者支付需求多种多样，现金支付习惯和 偏好仍然广泛存在，尤其是一部分老年人难以适应电子支付方式。中国人民银行此前组织的抽样调查显 示，老年人中经常使用现金的人数占比超过75%。其中，县域老年人经常使用现金人数占比为80.4%， 城市地区老年人经常使用现金人数占比为67.6%。此外，批发零售等行业的小 ...

Core Viewpoint - The People's Bank of China, along with other regulatory bodies, has established the "Regulations on Cash Payment and Service" to enhance the cash circulation environment amidst the rise of digital payment methods, ensuring that cash remains a viable payment option for all demographics [1][2]. Group 1: Regulations Overview - The regulations aim to clarify the cash service obligations of various charging units, operating entities, and banking institutions, promoting a collaborative effort to maintain a cash-friendly environment [1][2]. - The regulations are based on five fundamental principles: serving the public, problem orientation, comprehensive measures, collaborative governance, and legal accountability [2]. Group 2: Payment Scenarios - The regulations specify that cash payments must be supported in scenarios involving face-to-face services and transactions that can be completed in person, ensuring reasonable cash availability [3]. - For self-service models and areas with unified management, operators must clearly indicate accepted payment methods and cash conversion options [3][4]. Group 3: Banking Sector Requirements - Banking institutions are required to provide cash deposit and withdrawal services, ensuring that their network and self-service machines meet the needs of various customer groups [5]. - In cases of cash payment difficulties, the public is encouraged to negotiate with the service provider and report any refusal or discriminatory practices through appropriate channels [5].

Core Viewpoint - The People's Bank of China, in collaboration with the National Development and Reform Commission and the Financial Regulatory Bureau, has issued the "Regulations on Cash Payment and Services" to uphold the legal status of the Renminbi, prevent cash rejection behaviors, and meet the diverse payment service needs of the public. The regulations will take effect on February 1, 2026 [1]. Group 1 - The regulations consist of nineteen articles and apply to various entities, including government agencies, public service units, businesses, and the general public regarding cash transactions, as well as cash services provided by banking institutions. The core principle is that cash must not be refused, induced to be refused, or subjected to discriminatory measures, except in legally defined non-cash payment scenarios [1]. - Charging units and businesses must respect the public's right to choose legal payment methods. If all transactions are conducted online, they must publicly announce payment methods in advance and inform users during the service process [1]. - If cash payments are accepted, charging units and businesses must maintain reasonable change availability and ensure necessary conditions for cash transactions to proceed smoothly [1]. Group 2 - For self-service models, such as unattended machines, charging units must adequately meet the public's cash payment needs in special circumstances, such as mobile payment failures or equipment malfunctions [2]. - In locations like parks, factories, and schools that use unified management for payments, convenient cash recharge and card refund services must be provided [2]. - Banking institutions must handle cash deposit and withdrawal services for personal customers and ensure that cash self-service machines meet customer needs for cash transactions [2]. Group 3 - Banks should provide appointment or batch processing for customers exchanging large amounts of coins or small denomination notes, considering the needs of elderly, disabled, and foreign individuals in cash services [3]. - A cash service emergency response mechanism should be established to ensure cash supply and optimize service during unexpected situations [3]. - The regulations allow the public to protect their rights if they encounter cash rejection or discriminatory practices, enabling them to gather evidence and report to local branches of the People's Bank of China [3].

Core Viewpoint - The People's Bank of China, in collaboration with the National Development and Reform Commission and the Financial Regulatory Administration, has issued regulations to uphold the legal status of the Renminbi and prevent the refusal of cash payments, ensuring a conducive environment for cash circulation alongside diverse payment methods [1][2]. Group 1: Regulations Overview - The newly released regulations aim to maintain the legal status of the Renminbi and address the issue of cash refusal, particularly by administrative bodies, public service units, and businesses [1]. - The regulations require that entities supporting cash payments must maintain adequate change reserves and ensure smooth cash transactions [1]. - Public service units and businesses are encouraged to consider the public's need for cash and potential emergencies when promoting digital services and innovating business models [1]. Group 2: Cash Payment Handling - If a public entity or business encounters a situation where a customer presents a large number of coins or small denomination notes that exceed their counting capacity, they must negotiate a solution or direct the customer to a bank for appropriate denomination exchange, and cannot refuse cash payment on this basis [2]. - Financial institutions acting as payment recipients must support the acceptance of cash payments [2]. - Individuals who experience cash refusal or discriminatory practices in cash payments can gather evidence and report to local branches of the People's Bank of China for legal recourse [2]. Group 3: Supervision and Compliance - The People's Bank of China and its branches have the authority to supervise and inspect cash refusal behaviors, and involved parties must provide accurate information and not obstruct or evade inspections [2].

Core Viewpoint - The People's Bank of China, along with other regulatory bodies, has established the "Regulations on Cash Payment and Service" to enhance the cash circulation environment amidst the growing trend of digital payments, ensuring that cash remains a viable payment option for all demographics [1][2]. Group 1: Regulations Overview - The new regulations aim to clarify the cash service obligations of various charging units, business entities, and banking institutions, promoting a collaborative effort to maintain a cash-friendly environment [1][2]. - The regulations emphasize the importance of cash as a fundamental payment tool that supports the real economy and financial stability [1]. Group 2: Principles of the Regulations - The regulations are based on five fundamental principles: financial service for the public, problem-oriented approach, comprehensive measures, collaborative governance, and legal accountability [2]. - The principle of financial service for the public focuses on respecting consumer payment choices and meeting diverse payment needs while encouraging the development of various payment methods [2]. Group 3: Payment Scenarios - The regulations specify that cash payments must be supported in scenarios involving face-to-face services and transactions that can be completed in person, ensuring reasonable cash availability [3]. - For automated services and locations with unified management, businesses must clearly indicate accepted payment methods and provide contact information for cash-related inquiries [3]. Group 4: Banking Sector Requirements - Banking institutions are required to facilitate cash deposit and withdrawal services, ensuring that their network and self-service machines cater to the needs of different customer groups [5]. - Banks must also manage cash collection effectively to prevent the circulation of unfit currency and mitigate various business risks [5].