China reports solid growth in online payments during summer months

Chinese online payment clearinghouse NetsUnion and card payment giant China UnionPay reported robust growth in online payments during July and August, a high season for tourism and consumption, central bank data showed Sunday.

During the past two months, online payments via the two platforms hit 151.66 trillion yuan (about 21.34 trillion U.S. dollars), up 16.64 percent year on year, according to the People's Bank of China.

The two platforms handled nearly 277 billion transactions during the reporting period, representing a year-on-year rise of 14.59 percent, the central bank added. ■