PBOC fines 20 entities for rejecting cash

The People's Bank of China has fined 20 entities, as well as individuals responsible, for refusing to accept cash in the second quarter of the year in accordance with relevant laws, the country's central bank said on Thursday.

The fined entities include heating companies, parking lots, insurers, restaurant chains and supermarkets, each of whom was fined between 1,000 yuan ($148.3) and 190,000 yuan, the PBOC said.

The punishments were imposed to protect consumers' legitimate rights and safeguard the statutory status of the renminbi, the central bank said.