Chen Tian Universe

Oct 9, 2024 · Fundamentals

How China’s Payment Clearing Network Works: A Deep Dive into the Ecosystem

This article provides a comprehensive, step‑by‑step explanation of China’s payment clearing ecosystem, covering the roles of transaction platforms, payment institutions, clearing organizations, banks, and the central bank, as well as the account structures, clearing models, real‑time settlement processes, and cross‑institution settlement mechanisms.