On February 21, the people's Bank of China and the China Banking and Insurance Regulatory Commission jointly held a symposium on RMB cash services of banking financial institutions. The meeting required that all commercial banks, rural credit cooperatives and other institutions with physical outlets must handle RMB cash deposit and withdrawal business.
By the end of 2021, China's cash in circulation (M0) was 9.08 trillion yuan, a year-on-year increase of 7.7%, and continued to maintain a stable growth momentum. The annual net cash investment was 651 billion yuan, and the cash demand was still strong. All banking financial institutions strive to improve the level of cash services, build a strong defense line against counterfeit money, comprehensively consider the full sorting and cash disinfection, ensure that the public use "clean money", "assured money" and "satisfied money", and the quality of cash services continues to improve.
The meeting pointed out that the current overall situation of RMB cash services is good, but there are also some problems worthy of attention. The phenomenon of rejecting cash still occurs in the society. The willingness of some banking institutions to handle cash business has decreased, and even the situation of stopping cash business has occurred. There is still much room for improvement in the cleanliness of RMB in circulation and small denomination RMB services. We should attach great importance to these new situations, problems and signs, take them seriously and solve them properly.
The meeting required that banking financial institutions should fully understand the importance of doing a good job in RMB cash services and constantly improve the ability and level of cash services. Do a solid job in RMB cash deposit and withdrawal business. All commercial banks, rural credit cooperatives and other institutions with physical outlets must handle RMB cash deposit and withdrawal business. Continuously strengthen the compliance management of cash services, continuously improve the cleanliness of cash in circulation, solidly promote the exchange of small denominations of RMB, jointly build a long-term mechanism for the rejection of RMB cash, and promote RMB cash services to a new level. (end)
