BEIJING (Reuters) – China’s central bank said on Friday that it would lower payment fees for small firms from September 30, including for bank account services, yuan settlement and electronic banking.
The People’s Bank of China will also reduce interbank ATM fees, PBOC said in a statement on its website.
In total, the fee reductions are estimated to be worth 24 billion yuan ($3.72 billion) per year, it added.
($1 = 6.4533 Chinese yuan renminbi)
(Reporting by Stella Qiu and Ryan Woo; Editing by Gareth Jones)
