China sees online payment transactions surging during holiday

BEIJING -- Chinese online payment clearinghouse NetsUnion Clearing Corporation reported an increasing number of online transactions during the three-day Dragon Boat Festival holiday that ended Saturday.

From June 25 to 27, about 4.2 billion online transactions were processed by the platform, up 50.15 percent from the same holiday last year.

The transactions involved 1.97 trillion yuan (about $278.22 billion), up 25.48 percent from last year, the company said.

Compared with the three-day Tomb-sweeping Day holiday in early April, the number of transactions surged by 21.99 percent while the value marked a 10.61-percent rise, according to the company.