China tightens rules, page-19

I have just heard back from SMA as I asked if someone could give a statement regarding China's plans to tighten regulations governing the nations online-payment firms.

I hope this calms nerves........

"This regulation has no relevance to SmartTrans - it is proposed to place limits on the depositing and holding of funds and is focused on regulating the banking sector.
SmartTrans is a payment processor and doesn't hold unused funds on behalf of end users. In any case, SmartTrans’ typical transaction sizes are well below the CNY5,000 per day proposed limit, but for amounts over this, SmartTrans actually already uses the UnionPay banking facility which is what is being proposed to be mandated."