It mainly provides inter-bank payment and clearing services between commercial banks, and it is a system that provides final fund settlement for payment services between commercial banks and between commercial banks and the People's Bank of China.
It is the hub system of electronic remittance system of commercial banks in fund settlement, an important bridge connecting domestic and foreign banks and the core support system of financial market.
The fund settlement and capital settlement application system independently developed and built by using modern computer technology and communication network can efficiently and safely handle all kinds of payment services handled by banks in different places and in the same city, as well as transactions in the money market and financial market.
Extended data:
Main functions of modern payment system in China;
1, speed up the capital turnover and improve the efficiency of the use of social funds.
2. Support the use of diversified payment tools to meet the needs of various social and economic activities.
3. Cultivate a level playing field and promote the overall service level of the banking industry.
4. Enhance the liquidity of commercial banks and improve their management level.
5, to adapt to the reform of the treasury single account, improve the efficiency of the use of financial funds.
7. Prevent payment risks and maintain financial stability.
At present, the basic structure of China's payment system is centered on the central bank's payment system, supplemented by banking financial institutions' payment system, financial market payment system and third-party service institutions' payment system. All payment systems complement each other and are organically unified, and a payment system that ensures the safety and stability of economic and financial activities has been constructed.
As the main channel of payment and settlement, the central bank payment system is the mainstay of China's payment system. The central bank's payment system includes large payment system, small payment system, online payment interbank clearing system and domestic foreign currency payment system.
References:
Baidu Encyclopedia-China Modern Payment System