Core Viewpoint - The People's Bank of China, in collaboration with the National Development and Reform Commission and the Financial Regulatory Bureau, has established the "Regulations on Cash Payment and Service of Renminbi," effective from February 1, 2026, to enhance the status of Renminbi as legal tender and address the issue of refusal to accept cash payments [1][3]. Group 1: Regulations and Implementation - The regulations aim to maintain a cash-friendly environment by ensuring that businesses support cash payments and keep reasonable change available [1][3]. - The regulations will elevate the requirements for addressing cash refusal and optimizing the cash usage environment to a normative document, ensuring the sustainability and effectiveness of these efforts [3]. - The regulations emphasize a multi-faceted approach to address new issues and phenomena related to cash payments, considering specific scenarios and fields [5][6]. Group 2: Service Standards and Public Rights - The regulations are guided by the principles of serving consumption and safeguarding livelihoods, supporting payment diversity while respecting public choice in payment methods [4]. - Businesses must clearly display payment methods and cash acceptance policies in prominent locations, ensuring the public's right to information and choice [10]. - All payment and service transactions conducted online must be publicly announced in advance, respecting the public's right to know [1][10]. Group 3: Cash Service Optimization - Financial institutions are required to provide cash deposit and withdrawal services at all physical locations that accept personal customer deposits [14]. - The layout of cash service points and self-service machines must be designed to meet the needs of different customer groups based on the scale and characteristics of cash business [17]. - Businesses acting as payment recipients must support cash payments and cannot discriminate against cash transactions [20].

Group 1 - The core focus of the news is on the initiatives taken by the People's Bank of China in Luoyang to enhance cash services, particularly for the food industry and rural areas, ensuring efficient cash flow and accessibility for small vendors and farmers [1][2][3] Group 2 - The food industry is identified as the economic lifeline of Luoyang, with significant daily transaction volumes and a high demand for small change, prompting the establishment of a rapid cash exchange mechanism by local banks [1] - A total of 25,000 small denomination exchange services have been provided to key market vendors, addressing over 30,000 cash exchange requests through a green channel [1] Group 3 - To tackle cash service accessibility in rural areas, six banking institutions have deployed mobile service vehicles and portable devices to provide on-site cash withdrawal and deposit services, reaching over 50,000 farmers and rural merchants [2] - The establishment of a "warm-hearted special window" for the exchange of damaged currency has led to the handling of over 50 cases, recovering more than 50,000 yuan in economic losses for citizens [2] Group 4 - Anti-counterfeiting education has been integrated into community activities, with over 10,000 residents and villagers reached through six promotional events, resulting in a noticeable decrease in counterfeit currency cases among the elderly [3] - The People's Bank of China in Luoyang aims to provide cash services that are not only efficient but also warm and recognizable, supporting local economic characteristics and enhancing the livelihood of citizens [3]