PBOC Says Accounts-Receivable Voucher Balances Fall 20% to RMB 2.4 Trillion

On September 14, 2026, Cao Yuanyuan, head of the financial market department at the People's Bank of China, said at a State Council policy briefing that at their peak, more than 200 electronic voucher service platforms operated across the market, with outstanding electronic accounts-receivable vouchers reaching RMB 3 trillion and involving numerous core enterprises and their upstream and downstream suppliers.

After more than a year of regulation, outstanding accounts-receivable voucher balances across the market stood at RMB 2.4 trillion as of the end of July 2026, a decline of 20% from the pre-regulation peak.