On June 26, the central bank announced the „Fourth batch of non-bank payment institutions“ to renew the „Payment Business License“ decision.
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21st Century Economic Reporters found that the fourth batch of payment agencies a total of 93, of which 9 Payment agencies do not renew, two payment agencies do not renew part of the business. The renewal is valid from June 27, 2017 to June 26, 2022.
Nine Payment institutions include Putian Yintong Payment Co., Ltd., Xi’an Yinxin Shangtong Electronic Payment Co., Ltd., Beijing Jiaoguang Technology Development Co., Ltd., Beijing Zhongxin Payment Co., Ltd., Shanxi Orchid Payment Co., Ltd., Harbin Jinlian Payment Co., Ltd., Anhui Ruixiang Information Service Co., Ltd. Changsha business union Agel Ecommerce Ltd, Lok Fu payment Co., Ltd.
The central bank pointed out that the reasons for the non-renewal of the nine Payment institutions mentioned above are: the existence of the non-renewal of Article 6 of the Circular of the People’s Bank of China on Renewal of Work (Agfa  358).
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