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Pressnews.biz (Press Release) Sep 11, 2014
-- China Money Remittance and Payments Market Outlook to 2018 - Driven by Rising Migration and Effective Government Policies which provides a comprehensive analysis of the domestic and international money transfer, bill payment and mobile payment market in China. The report covers various aspects such as market size of money transfer market in terms of inflow of money from different countries and from different province. The market has been segmented on the basis of different payment channels such as formal and informal channel and the major flow corridors internationally and domestically as well.
Furthermore, the bill payment market has been segmented on the basis of different payment channels such as offline payment, online payment, mobile payment and payment through prepaid cards. The mobile payment market has been segmented on the basis of different channels of payment such as SMS Payment, Proximity Payment and mobile web payment as well as on the basis of different types of transactions such as consumer and enterprise. The market size for third party bill payment has also been provided on the basis of transaction volume with the segmentation by different types of bills paid such as utility bills, airline tickets, online shopping, online funds and others.
The inflow of money to China has gone down from USD ~ million in 2008 to USD ~ million in 2009. Global economy turmoil was responsible for the fall in inflow of money transfer in 2009. People of China working in different parts of the world especially in the US were strongly affected by the recession. The transaction volume of inward remittance has gone up from USD ~ million in 2009 to nearly USD ~ million in 2013.
The China international money transfer market can be segmented on the basis of different transfer channels such as Formal and Informal Channel. Currently, the formal channels hold a large share of nearly ~% of the overall international remittance market, whereas the informal channel holds a miniscule share of just ~% in the market. Hong Kong, which is in the special administrative region of China, is the highest contributor to the total inflow of remittances in China. Hong Kong contributed nearly ~% to the total revenue in 2012. The next leading country in terms of contribution to the total remittance flow in China has been the US. The China international remittance market is projected to grow at a CAGR of 7.2% during the period 2014-2018.
The China Domestic flow of money has gone up from USD ~ million in 2009 to USD ~ million in 2013 growing at a CAGR of 4.0%. The Inter provincial flow in China is more than the flow of money from other countries in China.
China Domestic Remittance market can be classified broadly into two payment channels- formal channel and informal channel. The formal channel can be in turn divided into commercial banks and third party payment providers. The commercial hold a larger share in comparison to the third party payment providers. Some of the leading third party payment providers are Alipay, Tenpay and others. Some of the leading commercial banks in China based on the remittance transaction volume are Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, Bank of Communications, and China Construction Bank, China Minsheng Bank, China Merchants Bank and others.
Key Topics Covered in the Report:
• Market Size of China International Money Transfer Market, China Domestic Money Transfer Market, China Bill Payment Market and China Mobile Payment Market
• An Overview of China Diaspora
• China International Money Transfer Market Segmentation by Different Types of Payment Channels Available, Flow of Money from Different Corridors
• China Domestic Money Transfer Market Segmentation by Different Types of Payment Channels Available, Formal Channel segmentation by different channels available, Different Services Available and Interprovincial Flow of Money
• China Bill Payment Market Segmentation by Different Payment Channels, Different Payment Sources
• China Third Party Bill Payment Market Segmentation by Different Types of Bills Paid
• China Mobile Payment Market Segmentation by Different Channels Available, Different Types of Transactions
• Government Regulations in China International Money Transfer Market and China Third Party Bill Payment
• Joint Ventures and Strategic Partnerships in China Mobile Payment Market and China Third Party Bill Payment
• Trends and Developments
• Competitive Landscape and Market Shares in China International Money Transfer Market, China Domestic Money Transfer Market, China Bill payment and Third Party Bill Payment Market, China Mobile Payment Market
• Future Outlook of China International Money Transfer Market, China Domestic Money Transfer Market, China Bill Payment Market, China Mobile Payment Market
Browse and Download Report Here - http://www.kenresearch.com/banking-financial-service-insurance/financial-services/china-remittance-payment-market-research-report/563-93.html