| Trial for Personal Cheque Cross-Region Clearing |
| July 25, 2006 Category: General |
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Personal cheque cross-region clearing is expected to start on a trial basis in Guangdong Province later this year. PBOC’s Guangzhou branch confirmed the plan and details will be issued later.
A personal cheque service pilot was launched in seven cities in 1986 but did not flourish for many reasons including weak demand, the heavy usage of cash and worries about fake cheques. In accordance with the Documentation Act, personal and business cheques are all permitted for local payments before. ( ChinaDaily ) More News
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