China's mobile payment sector posted fast growth in the third quarter of 2016, said a statement posted on the website of the People's Bank of China, the central bank.
The number of mobile payments handled by banks reached 6.63 billion, with a value of 35.33 trillion yuan ($5.13 trillion), growing 46 percent and 94.5 percent year-on-year, respectively.
Domestic banks dealt with 11.61 billion Internet payments with a total value of 433.93 trillion yuan, increasing 41.3 percent and 0.26 percent from the same period last year, respectively.
