New mobile payment platform 'will go far' to lift consumption

China has established its first national mobile payment platform using near field communication technology as part of an effort to boost information consumption, a senior central bank official said.

People's Bank of China Deputy Governor Li Dongrong said in an interview on Monday that the platform, which enables communication among mobile payment providers such as financial institutions and mobile network operators, began trial operations at the end of last year.

The platform has already been connected to the mobile payment branches of seven organizations, including China Construction Bank Corp, China CITIC Bank Corp Ltd, China Everbright Bank Co Ltd, China UnionPay and leading telecom operator China Mobile Communications Corp.