Core Viewpoint - The new regulations on cash payments in China, effective from February 1, 2026, aim to uphold the status of the Renminbi as legal tender and protect the public's rights to use cash [2][3]. Group 1: Regulations Overview - The regulations, jointly formulated by the People's Bank of China, the National Development and Reform Commission, and the Financial Regulatory Bureau, establish basic requirements for cash payments, including the necessity for face-to-face service and support for cash payments in various settings [2]. - Cash payments must be supported in scenarios where face-to-face transactions occur, and reasonable change must be available [2]. - In self-service models, such as unattended machines, businesses must clearly indicate payment methods and provide contact information for cash-related services [2]. Group 2: Consumer Rights and Complaints - Consumers have the right to report instances of cash payment refusal or discrimination, with the option to escalate issues through consumer protection channels if initial negotiations fail [3]. - Evidence should be retained for any disputes regarding cash payment refusals, and relevant authorities will address complaints promptly [3]. Group 3: Banking Sector Responsibilities - Banks are required to facilitate cash deposit and withdrawal services, ensuring compliance in cash handling and supporting cash collection through manual processes [3]. - Financial institutions acting as payment recipients must also support cash transactions, reinforcing the importance of cash in the payment ecosystem [3].

Group 1 - The new regulations on cash payments in China, effective from February 1, 2026, aim to uphold the status of the Renminbi as legal tender and protect the public's rights to use cash [2] - The regulations require that cash payments must be supported in various scenarios, including face-to-face services and online appointments, ensuring reasonable availability of change [2] - Businesses using self-service models or digital payment systems must clearly indicate payment methods and ensure that cash payments are not discriminated against [2] Group 2 - Banks are required to facilitate cash deposit and withdrawal services, ensuring compliance in cash handling and supporting cash collection when acting as payment agents [3] - In cases of cash payment refusal or discrimination, individuals are encouraged to negotiate with the relevant parties and retain evidence for complaints through consumer protection channels [3]

Core Viewpoint - The newly implemented regulations by the People's Bank of China, National Development and Reform Commission, and Financial Regulatory Administration aim to uphold the legal status of the Renminbi and protect the public's rights to use cash [1]. Group 1: Cash Payment Regulations - The new regulations classify cash payments and establish basic requirements for cash transactions, including the necessity for face-to-face services and support for cash payments where applicable [3]. - Businesses using self-service models or digital payment systems must clearly indicate payment methods and ensure cash acceptance is not discriminated against [3]. - Financial institutions are required to facilitate cash deposit and withdrawal services at physical branches and support cash transactions when acting as payment agents [3]. Group 2: Consumer Rights and Complaints - In cases of inconvenience with cash payments or discrimination against cash usage, consumers are encouraged to negotiate with the relevant parties and retain evidence for complaints through designated consumer protection channels [4].