How to evaluate the cross-border payment system? Zhou Xiaochuan believes that "adaptability" is more important than "instant settlement."

WealthCoffee

2026-03-27 00:22:57

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**　　[Caixin]** Former People’s Bank of China Governor Zhou Xiaochuan commented on the evaluation standards for cross-border payment systems, stating that a good payment system is not just a champion in individual technology or performance. Just like instant payments are not necessarily good, the most important aspect is “adaptability.”

He made these remarks on March 26 during the Boao Asia Forum 2026 annual conference. Zhou Xiaochuan pointed out that some say a good payment system should aim for “settlement within 1 second” or “a few milliseconds,” and even advocate for instant payments, but most users do not have such needs when making transactions. Sometimes, they only pay after receiving the goods.

Zhou Xiaochuan further analyzed that the convenience of payments needs to be balanced with compliance, which reflects the regulatory adaptability behind it.

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