People’s Bank of China (PBOC) has announced a pilot program of the nationwide Check Imaging System (CIS) in six provinces and cities. Under the CIS system, corporate and personal checks could be truncated and cleared electronically by image files, and be settled via PBC’s Bulk Electronic Payment System.

In China, nearly 1.8 billion checks were processed in 2005, and valued at 350 trillion yuan, says PBC. Previously checks could only be cleared within the same city. The CIS system is scheduled to be expanded throughout the country by the end of June next year.

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