Cash refusal punishable

2021-03-23 「 868 words / 2 minute 」
Cash refusal punishable.jpg
Cash refusal punishable
The People's Bank of China, the central bank, said on Tuesday that it will investigate and punish institutions and individuals that refuse to accept valid bank notes and coins and reiterated that it would protect the groups or individuals who find it inconvenient to use electronic or other noncash payment methods.
The PBOC said in a notice that cash is the most basic means of payment in China and hence institutions and individuals should not refuse to receive it.
The PBOC has taken a number of measures to standardize the management of cash, improve the efficiency of the circulation of cash, and ensure the rational, safe and smooth use of cash by the public, it said.