PBoC warns businesses not to reject cash
Businesses are being given one month to rectify their practices
The People’s Bank of China has warned businesses not to reject cash, in a new move to play down the hype around visions of a cashless society.
The PBoC says people a recomplaining that cash is being rejected in some tourist attractions, restaurants and retailers.
“This undermines the legal status of the renminbi and dampens customers’ choices of payment method,” the Chinese central bank says in an online statement released on July 13. It adds that it is necessary to create a harmonious payment
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