China provides convenient payment services at Canton Fair

The 135th session of the China Import and Export Fair, also known as the Canton Fair, is held from April 15 to May 5 in Guangzhou, capital of south China's Guangdong Province. During the first phase, from April 15-19, approximately 125,440 purchasers from 212 countries and regions had participated the event in person, marking a notable 23.2 percent increase compared to the same phase of previous edition.

During the fair, the flow of people, logistics, capital has been strengthened by diversified and convenient payment solutions, thanks to the concerted efforts of authorities and financial institutions.

-- Developed financial service at Canton Fair

Before the Canton Fair, the Ministry of Commerce (MOC) had conducted a survey concerning foreign businessmen's payment methods in Guangzhou. According to Chinese Vice Minister of Commerce Wang Shouwen, the survey showed that cash has taken a large share of 52 percent, while mobile payment and bank card accounted for 33 percent and 15 percent, respectively.

Given the survey result, China has made arrangement for easier payment at the venue of Canton Fair.

Jordan purchaser Musta, as an "old friend" of the fair, gained new experience this time. He routinely exchanged euros for renminbi on an automatic foreign exchange machine after passport identification. "It's so convenient, and the machine is everywhere in the venue," he said.

Another foreign purchaser Kevin chose to top up in his "e-CNY hard wallet" in the form of a bank card, which can finish payment with a touch with POS machines. He described the card as meaningful, saying he will treasure it.

A bank clerk of Bank of China (BOC) Canton Fair Branch is helping foreign purchasers with foreign exchange on an automatic machine. (Photo/Huang Aidi)

Marvin from the Philippines inserted his Visa card into a POS machine to pay for a coffee seamlessly. China Construction Bank Guangdong branch has equipped the Canton Fair with 50 POS terminals that accept a wide range of international credit cards in the venue, facilitating foreigners' direct payment at service offices, convenience stores and restaurants.

Besides, the lender also updated the "3D digital exhibition hall" section on the official website of the Canton Fair, to provide financial services online, such as international settlement, trade financing and matchmaking.

When opening a bank account at Bank of Guangzhou, Oliver, a Canton Fair purchaser, was offered a form and instruction of opening bank account in English and the bank clerk's communication with him was also in English. He was so amazed at the convenience of foreigners' life in China.

Financial Institutions at the venue have felt the enthusiasm of foreign businessmen. From April 15 to April 18, the Bank of China booth has handled about 2,000 foreigners for foreign exchange and cash withdrawal services, with newly-opened account up to 130, according to Yao Xuan, governor of the Bank of China Canton Fair Branch.

-- Convenient payments everywhere

China has made concerted efforts to make foreigners life easier in terms of payment in the country.

After landing in Guangzhou, foreign visitors can easily find service desk for payment questions, and staff who introduce related policies in multiple languages and help foreigners set up mobile payment.

Stores are encouraged to accept major international credit cards, such as Visa, Master and American Express and all stores are equipped with at least one POS machine, according to an official with Guangzhou Municipal Commerce Bureau.

A staff member of China Construction Bank is updating POS machine for a local store to make it accept international credit cards. (Photo/Chen Jiajia)

Lots of facilities in surrounding areas of the venues for the Canton Fair, including stores, hotels, taxis and public transports, have joined the foreigner-friendly business community campaign, which was initiated by the Ant Group, Alibaba's fintech arm.

A purchaser from Thailand expressed her excitement of easy life in China. "Since China and Thailand launched the visa-free policy, with Alipay linked with my local bank card, life is so easy for us in travel and consumption. Alipay is like a toolbox, simple and fast."

Wechat Pay also launched a campaign for a month in Guangzhou to support the fair. It optimized card-linking process and set up information desks providing English service. It is learned that Wechat Pay plans to extend the campaign to nationwide to facilitate easy travel for inbound travellers.

-- Fulfilling diverse payment preferences

White Swan Hotel is French businesswoman Natalie's all-time favorite hotel in Guangzhou. She always chooses to stay here when attending the Canton Fair. During the first Phase of the fair, the hotel was fully booked.

Lin Zhenhai, general manager of the hotel, said that the hotel fully respects all payment preferences, and it works to cope with these payment preferences in many consumption scenarios, such as hotel, restaurant and stores.

Paying with a mobile phone has become so natural to the vast majority of the Chinese population, while it its not so prevalent among foreigners. China's financial institutions are continuing to optimize payment service of bank cards, promoting cash use and facilitating mobile payment.

According to Ye Mao, an official with the Guangdong branch of the People's Bank of China (PBOC), improving the payment environment for international bank card is a priority. Coordinating with other departments, the PBOC has updated POS machine of 14,000 stores in 17 key areas, covering major consumption scenarios, such as accommodation, travel, shopping and hospitalization.

Providing diverse, inclusive financial services for foreigners in China has been high on the agenda for Chinese financial institutions. In March, the State Council issued a guideline on optimizing payment service. As a pioneer, Guangzhou will build itself into a demonstration zone for payment service, enhance the support upon arrival and offer convenient and foreigner-friendly payment experience, according to an official with the Guangzhou Municipality.

(Edited by Li Shimeng, lishimeng@xinhua.org)