REPORT ON THE CHINA MONEY TRANSFER AND PAYMENTS MARKET TO 2018: KEN RESEARCH

A comprehensive analysis of the domestic and international money transfer, bill payment, and mobile payment market in China is provided in the report titled “China Money Remittance and Payments Market Outlook to 2018,” which was driven by increasing migration and effective government policies. The report was published in 2018. The research includes a variety of topics, such as the size of the market for money transfers in terms of the amount of money coming from a variety of countries and from a variety of provinces. The market has been broken up into multiple submarkets based on the many types of payment channels that are available, such as the official and informal channels, as well as the key flow corridors both domestically and globally. In addition, the market for the payment of bills has been divided into submarkets based on the many channels via which payments may be made, such as offline payments, internet payments, mobile payments, and payments made using prepaid cards. The market for mobile payments has been divided into several submarkets based on the various channels of payment available (for example, mobile web payments, proximity payments, and SMS payments), as well as the various types of transactions that can be completed (for example, business transactions and consumer transactions). The size of the market for third party bill payment has also been supplied on the basis of transaction volume, with the market broken down further into submarkets based on the various kinds of bills paid, such as those for utilities, airline tickets, online shopping, online money, and others. The amount of money that entered China fell from USD million in 2008 to USD million in 2009. This is a significant decrease. 2009 was a year that saw a significant drop in the amount of money being transferred internationally due to unrest in the global economy. People from China who were working in other areas of the globe, particularly in the United States, were severely impacted by the economic downturn. The total amount of transactions involving incoming remittances increased from one million US dollars in 2009 to about two million US dollars in 2013. On the basis of the various transfer routes, such as official and informal channel, one may divide the market for foreign money transfers in China into distinct submarkets. At the moment, the official routes maintain a significant portion of the entire international remittance market, which is close to percent, whilst the informal channel has a negligible share of the market, which is only percent. The city-state of Hong Kong, which is located inside China but is considered to be part of China’s Special Administrative Territory, is the region that sends the most money back to the mainland. In 2012, Hong Kong was responsible for practically zero percent of the overall income. The United States has been the nation that has contributed the most to the overall amount of money that has been sent back to China. During the period 2014-2018, it is anticipated that the China international remittance market would expand at a compound annual growth rate of 7.2%. The amount of money that circulated inside China increased from USD million in 2009 to USD million in 2013, representing a compound annual growth rate of 4.0 percent. The movement of money inside China between the various provinces is far higher than the flow of money from other nations into China. The Chinese domestic remittance market may be divided, in a general sense, into two different payment channels: the official channel and the informal channel. When broken down further, the formal channel may be segmented into commercial banks and third-party payment providers. In compared to other types of payment service providers, the commercial companies possess a bigger market share. Alipay, TenPay, and other similar services are examples of some of the most successful third-party payment providers. The Industrial and Commercial Bank of China, the Agricultural Bank of China, the Bank of China, the Bank of Communications, the China Construction Bank, the China Minsheng Bank, the China Merchants Bank, and other financial institutions are among the most successful commercial banks in China when measured by the volume of their remittance transactions. The research covers a number of important subjects, including the following: the market size of China’s domestic money transfer market, China’s international money transfer market, China’s bill payment market, and China’s mobile payment industry •a summary of the Chinese expatriate community • China’s domestic market for money transfers is segmented according to the different types of payment channels available. • China’s international market for money transfers is segmented according to the flow of money from different corridors. • China’s domestic market for money transfers is segmented according to the formal channel segmentation by different channels available, different services available, and interprovincial flow of money. •segmentation of the market for the payment of bills in China based on the various payment methods and sources of payment • China’s market for third-party bill payment is segmented according to the different sorts of bills paid. • China’s market for mobile payments is segmented according to the many channels accessible and the various kinds of transactions. • rules implemented by the Chinese government on the international money transfer industry and the china third party bill payment markets • collaborative ventures and strategic alliances in both the Chinese mobile payment industry and the Chinese third-party bill payment market • current fashions and emerging styles • the competitive landscape and market shares in the China international money transfer market, the China domestic money transfer market, the China bill payment and third party bill payment market, and the China mobile payment market • the future outlook for the China international money transfer market, the China domestic money transfer market, the China bill payment market, and the China mobile payment market you may go over the report and download it here. Contact the Ken Research Information Department at info@kenresearch.com or call +91-11-47017199 for more information about the China Money Remittance Market Report.

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