Economic Observation: What does the fee reduction "special gift package" bring to enterprises and consumers?

　　[Economic Observation] What does the “spree” of fee reduction bring to enterprises and consumers?

　　Recently, the People's Bank of China, the China Banking and Insurance Regulatory Commission, the National Development and Reform Commission, and the State Administration for Market Regulation jointly launched fee reduction measures to further concession to the real economy.

In addition, the People's Bank of China has cooperated with the China Banking and Insurance Regulatory Commission to launch long-term measures to reduce the handling fees of cross-bank cash withdrawals from automated teller machines (ATMs) to adapt to the needs of remote pensions and medical care, and to facilitate the use of cash by the people.

　　A relevant person from the People's Bank of China said that preliminary calculations indicate that after the implementation of all the fee reduction measures, it is expected that the annual fee for market players and the public will be reduced by about 24 billion yuan, of which more than 16 billion yuan will benefit small and micro enterprises and individual industrial and commercial households.

　　According to reports, the fee reduction involves government pricing and government-guided price reduction measures. The People's Bank of China, in conjunction with the China Banking and Insurance Regulatory Commission, the National Development and Reform Commission, and the State Administration for Market Supervision, issued relevant notices to specify specific requirements; it is a market-priced fee reduction measure. , The People’s Bank of China and the China Banking and Insurance Regulatory Commission guide relevant industry associations to give full play to the role of industry self-discipline mechanisms, and encourage and guide commercial banks and payment institutions to increase benefits for businesses and people.

　　Recently, on the basis of a survey of nearly 50,000 small and micro enterprises and individual industrial and commercial households, the People’s Bank of China and other four departments have focused on basic payment services with high demand for fee reduction and high frequency of use, and proposed 12 fee reduction measures. It will be officially implemented on September 30, 2021, covering five aspects including bank account services, RMB settlement, e-banking, bank card swiping, and payment account services.

　　Among them, in order to further guide the payment industry to transfer profits to the real economy, reduce the operating costs of market entities, and optimize the development environment of the real economy, four departmental requirements are required to reduce the payment handling fees of small and micro enterprises and individual industrial and commercial households, including reducing bank account service charges and reducing RMB transfers Handling fees for remittances, cancellation of some bill business charges, and lowering of handling fees for bank card swiping.

　　At the same time, on June 25, the China Payment and Clearing Association and the China Banking Association issued a proposal to jointly call on the payment industry entities to reduce the payment handling fees of small and micro enterprises and individual industrial and commercial households, including reducing bank account opening handling fees and reducing RMB settlement Service fees, lower e-banking service charges, lower payment account service fees, etc.

　　Small and micro enterprises and individual industrial and commercial households are an important foundation for my country’s economic and social development. Appropriate reduction of the fees paid by small and micro enterprises and individual industrial and commercial households will help reduce the operating costs of small and micro enterprises and individual industrial and commercial households and consolidate the micro-foundation of my country’s economic development. .

　　On the same day, the two associations also jointly issued the "Proposal on Reducing the Cross-bank Cash Withdrawal Fee of Automatic Teller Machines (ATM)" (hereinafter referred to as the "Proposal").

According to the "Proposal", the inter-bank cash withdrawal fee standard for ATMs in the same city is lowered to no more than 3.5 yuan per transaction.

At the same time, reduce the handling fees for cross-bank cash withdrawals in different places, and encourage card issuing banks to no longer charge a certain percentage of the amount of money withdrawn.

The fixed fee standard of the inter-bank cash withdrawal fee for ATM in different places is the same as that of the same city business, and it does not exceed 3.5 yuan per transaction.

　　Industry insiders pointed out that this is a move that facilitates the lives of financial consumers and benefits consumers. It is also a move that forces banks to change their service concepts. It will help the banking industry improve its image and attract customers, and it will achieve a win-win situation in the long run.

　　Since then, commercial banks such as Bank of China, Agricultural Bank of China, Industrial and Commercial Bank of China, and China Construction Bank, as well as third-party payment platforms such as Tenpay and Alipay have issued documents in response to the initiative.

　　In the opinion of experts, after the implementation of this series of fee reduction measures, small and micro enterprises, individual industrial and commercial households, and individual financial consumers will all enjoy relevant benefits and conveniences, which will reduce the cost of capital circulation, further optimize the business environment, and Promoting the quality and expansion of consumption and boosting the high-quality development of the national economy have a positive effect.

　　Reporter: Yang Zhaokui