The Amount of Non-cash Payments Nationwide During the Spring Festival Holiday was 14.9 Trillion Yuan

Central Bank: The amount of non-cash payments nationwide during the Spring Festival holiday was 14.9 trillion yuan, a year-on-year increase of 16.2%.

Payments for hotel accommodation have grown substantially. The payment amount of hotel accommodation merchants increased by 26.9% compared with the same period of last year, and the average payment amount increased by 23.7%, showing the characteristics of high-quality accommodation as a whole.

The payment business monitoring data for the Spring Festival holiday in 2022 shows that China payment business volume continues to grow, helping the consumer market develop steadily.

Based on the data of major commercial banks, payment institutions and clearing institutions, during the Spring Festival in 2022 (January 31 to February 6), the national non-cash payment business volume will be 20.84 billion, with an amount of 14.9 trillion yuan, which is an increase 10.0% and 16.2% over the same period last year.

During the Spring Festival, the public's payment business volume continued to grow in shopping, catering, travel, leisure and entertainment and other scenarios. Payments for shopping and consumption are growing rapidly.

The holiday economy combined with the Spring Festival promotional activities drove a steady increase in shopping consumption, and the payment amount of retail merchants increased by 22.9% over the same period last year. Food and beverage consumption payment continues to be hot.

During the Spring Festival, there was a strong demand for food and beverage consumption such as gatherings of relatives and friends, and the payment amount of food and beverage merchants increased by 29.6% compared with the same period last year. Payments for transportation have grown significantly.

The amount paid by merchants in the transportation industries such as railway, aviation, bus, and subway increased by 18.8% compared with the same period of last year.

Payments for hotel accommodation have grown substantially. The payment amount of hotel accommodation merchants increased by 26.9% compared with the same period of last year, and the average payment amount increased by 23.7%, showing the characteristics of high-quality accommodation as a whole.

In the next step, the People's Bank of China will continue to implement the development concept of "payment for the people", continue to optimize the consumer payment service environment, provide the public with safer and more convenient payment services, and contribute to the high-quality development of my country's economy.