Mobile payment on fast growth in China

China's mobile payments continued a fast growth in the second quarter of 2018.[from IC]

Data from the country's central bank shows, the country's banks processed about 15 billion mobile payment transactions in Q2, up 73 percent year on year.

The value of these transactions totaled about 63 trillion yuan (9.24 trillion US dollars), up 60 percent year on year.

China's online payment industry has grown quickly in recent years amid growing availability of smartphones.

Online payment transaction value by non-banking institutions totaled 48.29 trillion yuan (7.1 trillion dollars) in Q2, up 53.35 percent year on year.

Click to take a listen to the discussion between Li Ningjing and Liu Min, hosts from Studio+, a daily talk show produced by China Plus.