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The Guardian - AU
The Guardian - AU
World
Helen Davidson and Chi Hui Lin in Taipei

Cash is king — for now: China signals it will slow transition to cashless society

Stacks of 100-yuan banknotes. China has signalled that it will slow the pace of its transition to a cashless society
Stacks of 100-yuan banknotes. China has signalled that it will slow the pace of its transition to a cashless society. Photograph: Imaginechina/REX/Shutterstock

For 18 years, Liu Yau-li has been bringing tourists to China. In that time she’s seen the full evolution of China’s digital payment system. Twenty years ago, she says, everyone used cash. But today it’s not unusual to find places that can’t or won’t accept cash at all, particularly after the pandemic when much of the world grew wary of handling shared items.

If visitors want to enjoy convenient travel, she says, they’re better off downloading one of the major payment apps and hoping it works for them.

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