The central bank intends to carry out large cash management, will public cash access be restricted?
Beijing, 14 Nov (Xinhua) the central bank intends to carry out large cash management, will public cash access be restricted?
Xinhua News Agency reporter Wu Yu
In order to promote the management of large amounts of cash, the people's Bank of China issued a relevant circular a few days ago, intending to carry out large amount of cash management on a pilot basis in Hebei Province, Zhejiang Province and Shenzhen City, and openly solicit opinions from the public. Why carry out large cash management? What impact will this have on public access to cash?
In recent years, although the non-cash payment business in China has developed rapidly, the total amount of cash in circulation is stable, the volume of large cash transactions continues to grow, and large cash withdrawal has become an important channel of cash flow. However, more and more large cash transactions are concentrated in specific areas, and specific groups of people are not good.
People related to the people's Bank of China said that large cash transactions concentrated in specific areas, specific groups, specific periods, the overall efficiency of cash flow will be reduced. At the same time, large amounts of cash are widely used, easy to be used by corruption, tax evasion, money laundering and other illegal and criminal activities, containing certain risks.
In order to optimize the cash flow environment and maintain economic and financial order, the people's Bank of China drafted the Circular of the people's Bank of China on the pilot implementation of large Cash Management in Hebei Province, Zhejiang Province and Shenzhen (draft for public solicitation of opinions). And openly solicit opinions from the public.
According to the draft for soliciting opinions, the pilot project will last for two years and will be implemented in stages by regions. The starting point of the management amount of the public account is 500000 yuan, and the starting point of the management amount of the private account is 100000 yuan in Hebei Province, 300000 yuan in Zhejiang Province and 200000 yuan in Shenzhen City. The pilot areas will gradually establish and standardize systems such as large cash withdrawal reservations, large cash access registration, large cash analysis reports, supervision and inspection, and so on.
The reporter learned from the people's Bank of China that the reasons for choosing these three areas as pilot projects are mainly due to the good foundation for the management of large cash operations of banking financial institutions in Hebei Province, and Zhejiang Province and Shenzhen City are the key areas for national cash investment. Moreover, the large cash use of some industries in Zhejiang Province is prominent, the large amount of personal accounts is prominent, and the cross-border flow of RMB banknotes between Shenzhen and Hong Kong is widespread.
In the pilot areas, the people's Bank of China will strengthen the records and reports of large cash transactions to enterprises in specific industries. For example, to explore Xingtai real estate industry, Qinhuangdao medical industry enterprises to record and report large cash transactions, in Zhejiang Province to explore wholesale and retail, real estate sales, construction, automobile sales enterprises large cash withdrawal and cash management.
"under the requirements of large cash management, banks need to deepen their understanding of current customers, strengthen risk alerts and information communication for customers who are prone to large amounts of cash transactions, and guide them to use non-cash payment tools." A bank staff member told reporters that the bank to establish a large cash withdrawal reservation system, to facilitate the optimization and integration of internal cash flow, but also for customers to do a good job in cash service security, and further improve the level of cash service.
In addition to standardizing the large cash withdrawal reservation business, the consultation draft also proposes to establish a large access current registration system. In this regard, the people's Bank of China stressed that the premise of freedom of access is legal. As long as the customer meets the registration obligations in accordance with the regulations, large access is now not restricted.
According to relevant people of the people's Bank of China, carrying out large cash management will not affect the daily economic activities of the public. On the one hand, the vast majority of daily economic activities use a single amount of cash below the starting point of the amount; On the other hand, bills, money transfer, online, mobile and other payment methods are widely used, diversified payment methods can meet the daily production and life needs of the vast majority of the public.
Experts say that at present, developed countries have generally regarded large cash management as an important part of social governance and international cooperation, and have adopted strict and tight control measures. However, there are still some weak links in the management of large cash in our country, such as limited supervision coverage, insufficient legal effect and so on. Large cash management in some areas to try first, help to establish a long-term mechanism of large cash management to lay the foundation, and gradually promote the concept of rational use of cash.