Core Viewpoint - The People's Bank of China (PBOC) has revised the "Non-Bank Payment Institutions Classification Rating Management Measures" to enhance the regulation of non-bank payment institutions and improve differentiated regulatory measures [1][2] Group 1: Regulatory Framework - The revised draft aims to comprehensively evaluate the operational level and risk status of payment institutions, facilitating compliance and enhancing the scientific, precise, and effective nature of regulatory work [1] - The classification rating process is defined as an evaluation conducted by the PBOC and its branches based on daily regulatory information and other relevant data [1] Group 2: Rating Indicators and Methods - The draft specifies the rating indicators, methods, and scoring criteria, with classifications conducted annually, and the PBOC will clarify scoring standards before each rating [1][2] - It outlines five categories and eleven rating results, along with corresponding scoring ranges and standards for special circumstances [2] Group 3: Implementation and Information Sharing - The classification rating applies to payment institutions that have been established for over one year as of the end of the previous natural year [2] - The PBOC and its branches are required to continuously collect various information necessary for classification ratings, including non-site regulatory information, inspection reports, and internal and external audit reports [2] - An information-sharing mechanism is to be established between the PBOC, clearing institutions, and the China Payment and Clearing Association to enhance compliance and risk management [2]