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online news service focusing on China’s mobile payment industry, said to Securities Daily he
expects the run-up of cashless payments will maintain for three to five years until it takes up as much sha
re of consumption as possible, as consumers incrementally wade farther into cashless payments.
Data from PBOC revealed banking financial institutions in 2018 conducted 220.31 billion deals in non-cash paym
ents involving 3,768.67 trillion yuan, a rise of 36.94 percent and 0.23 percent year-on-year respectively.
In the same period non-banking payment institutions, mainly referring to third-party online payment service providers, had 530.61 b
illion deals, surging 85.05 percent, and the transaction volume was 208.07 trillion yuan, up 45.23 percent fro
m the previous year. Mobile payment platforms Alipay and WeChat Pay occupy over 90 percent of market share.
By the end of 2018, a total of 424 commercial banks and 115 payment institutio
ns were connected to a unified clearing platform set up by the Payment and Clearing Association of China, PBOC said.
is deep into its most crucial week since the last one.
On Thursday, Theresa May travels to Brussels to meet with the remaining 27 EU leaders, where she is expected to request an extension to Article 50, the legal
process by which Britain is leaving the EU. If the EU27 agree, as they probably will, Brexit will be delayed beyond the current deadline of March 29. Lea
ving aside the gravity of this epic failure of British Brexit policy, the key question is how long will the delay last?
There are two likely options. The first is a short delay, which Downing Street said on Wedne
sday it would request. This would give the UK government a little more time to get its Withdrawal Agr
eement through Parliament, perhaps sweetened with some changes to the accompanying political declaration.
Or, the EU could offer May a much longer extension, possibly lasting years, to give to the UK more breathing space in which to u
ntangle its Brexit mess. The EU says it would only grant a longer delay if there was a good reason for doing so.
have expanded. Now, bakeries, cinemas, convenience stores, gyms are all channels that dairy makers are try
ing to access,” said Yu Xubo, chairman of the board of directors of Mengniu, and president of COFCO Group, China’s largest food trader.
“We have also found that the purchase of fresh dairy products is increasing in major
cities among middle to higher-income earners,” said Yu, who is also a deputy to the 13th National People’s Congress.
This year, Mengniu said it plans to establish specific cold chain logistics cha
nnels and strengthen its ability to produce and transfer fresh dairy products.
Meanwhile, the dairy maker has developed some niche products. It has introduced sports milk with a high protein
content tailored to those who work out often, and milk that acts as a meal substitute, both of which have seen high
er-than-expected sales, driven by new and more diversified demand from consumers, the company said.