Alipay and WeChat Pay Open up Mobile Wallets to Foreigners in China
In a significant move to facilitate foreign visitors in China, Ant Group and Tencent have announced new developments in their mobile wallet services, Alipay and
China Internet Stats, Trends, Insights
Finance
Chinese Millennials Lead the Way in Internet Insurance Adoption
The Yuanbao Group, in collaboration with the China Insurance and Pension Research Center at the School of Finance of Tsinghua University, recently published the “2022
China’s mobile payment market overview 2023: Alipay vs. WeChat Pay
QR code payment is still the most commonly used payment method for mobile payment users in China according to China Payment & Clearing Association’s research.
China’s digital currency eCNY reached 261 million digital wallets
As of December 31, 2021, there had been more than 8.0851 million eCNY (China’s Central Bank Digital Currency or CBDC) pilot scenarios, reaching 261 million
UnionPay integrates with Alipay and WeChat Pay
WeChat Pay has officially implemented mutual recognition and mutual scanning of offline QR codes with UnionPay’s Flash app. Users can scan WeChat payment codes through
China’s 3rd-party payment market 2021-2025e: mobile vs. internet
The third-party mobile payment transactions in China increased to 74.0 trillion yuan in the first quarter of 2021, a year-on-year increase of 39.1%, according to
Top 500 Chinese brands in 2021; WeChat is China’s and the world’s strongest brand
Chinese brands show resilience as the total value of the top 500 brands in China remains stable at US$1.94 trillion in 2021, according to the
How Tencent’s investment strategy made it US$120 billion in 2020
Tencent made a total of about US$120 billion in 2020 through its minority stakes in about 100 listed companies. Such achievements are enough to make
Top 10 predictions for China’s blockchain market 2021-2025
By 2025, blockchain-based electronic voting solutions will become the mainstream solution, and 5% of jurisdictions will conduct blockchain voting system testing in China, according to
Top 10 forecasts for China’s financial services industry in 2021
By 2022, 75% of consumer and small business loans will be made through automated processes supported by artificial intelligence, according to a forecast from IDC.
China saw first online payment using Digital Currency Electronic Payment
China’s first online order by Digital Currency Electronic Payment (DECP) was made by a Suzhou online shopper at JD.com on December 11, right after Suzhou’s
Top 10 FinTech companies in China in 2020
Ant Group has become the most valuable financial technology enterprise in China with a value of 2.1 trillion yuan. Credit Suisse expects Ant’s revenue to
China FinTech unicorn Ant Group’s gross profit exceeded US$10 billion in 2020
Ant Group, China’s fintech unicorn behind Alipay, announced that in the first three quarters of 2020, it realized 118.191 billion yuan of operating revenue, with
S&P Global: Bank disruptors doubling down on mobile payments in China
Users of most payment platforms reported high engagement for mobile payments (around 90% considering the margin of error), with Du Xiaoman Pay users being a
China saw over 30 billion mobile payment transactions in Q2 2020, up 27%
China’s central bank People’s Bank of China released the overall situation of payment system operation in the second quarter of 2020. The number of ATM
CIW eBooks
eBook: Win Chinese Market with Content
This eBook shares three trends of digital content consumption in China, China’s digital content ecosystem, and how content help businesses in branding and driving sales
eBook: Small Town Youth, New Growth Engine in China
The average monthly disposable income of new small-town youths from China’s lower-tier cities is 3,730 yuan, compared with 5,401 yuan of young people in China’s
eBook: China E-Commerce Factories
E-commerce factory is the collaboration of the manufacturing industry and the internet. Under the circumstances of retail sector being depressed while the traffic of e-commerce