China's non-cash payments up in Spring Festival holiday

BEIJING - The non-cash payments handled by Chinese banks saw an increase during the seven-day Spring Festival holiday, according to China's central bank.

Non-cash payments, involving bank cards, online payment vehicles, commercial papers, credit transfers and other settlements, stood at 14.9 trillion yuan ($2.34 trillion) from Jan 31 to Feb 6, up 16.2 percent year-on-year, the People's Bank of China said on Monday.

Of the total, the non-cash retail transactions of commercial tenants saw strong performance during the holidays, posting an increase of 22.9 percent year-on-year.

Meanwhile, transactions in the catering sector gained 29.6 percent year-on-year as demand related to gatherings surged, the central bank said.

Transactions in the transport sector climbed 18.8 percent from the year before, while those for hotel bookings surged 26.9 percent.

The central bank will continue to optimize the environment of consumption and payment services, and provide safer and more convenient payment services for the public, it said.

The Spring Festival, which was celebrated on Feb 1 this year, is the biggest occasion for family gatherings and heralds the beginning of spring.