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China

WeChat Pay starts supporting cards issued outside China

WeChat Pay has started allowing cards issued outside of China to be loaded into their platform, opening up access to international customers. The option will be available to expatriates living in China, as well as in “Greater China”, to residents from Hong Kong, Macau, and Taiwan, and will apply to cards issued by JCB, Mastercard and…

Chinese central bank official says cryptocurrency trade needs to end

Chinese authorities might consider banning centralized trading of virtual currencies as well as individuals and businesses that provide related services, according to CNBC. In a memo outlining details of discussions at a meeting of internet regulators and other policymakers, PBOC Vice Governor said the government would continue to apply pressure to the virtual currency trade…

Poorest regions of China see faster eCommerce adoption

Ecommerce market in China is growing faster in western and central provinces than in the richer coastal regions, according to a recent report from Alibaba Group. The biggest rises in online retail sales during the first 11 months of 2017 were posted by Gansu province, Guizhou province and Tibet autonomous region, some of the poorest regions…

Alibaba considers Hong Kong listing, says founder Ma

Alibaba founder Jack Ma has said that the company will “seriously consider” listing in Hong Kong, as the financial hub prepares to allow dual-class share listings. Reuters reports that Jack Ma made the comments at an event in Hong Kong, in response to remarks made by Hong Kong Chief Executive Carrie Lam about how she hoped…

JD.com launches luxury ecommerce platform

JD.com, a China-based retailer, has launched Toplife, a new, full-price luxury ecommerce shopping platform with online shopping platform.    The new ecommerce platform gives high-end brands to enter the Chinese market and reach a wider audience. The launch of a separate shopping online store for luxury items was motivated by the desire to offer consumers…

WhatsApp is now blocked by the Great Firewall of China

WhatsApp is one of the last Facebook-related products that are now blocked in China. According to The New York Times, WhatsApp faced service disruption in China last Wednesday, and the Great Firewall entered into full force yesterday.   Cybersecurity experts that were approached by The New York Times said that their government is possibly using specialized software…

Alibaba to launch online payment platform AliPay in Canada

Alibaba Group has announced that the online payment platform AliPay will officially launch in Canada through a partnership with Snap Pay.   Due to this announcement, Canadian retailers will start accepting Chinese currency from Chinese shoppers this week. More than 450 Canadian merchants are said to already accept AliPay in an unofficial capacity. Chinese consumers visiting Canada will…

Chinese ecommerce sector grows by 27% in trade

China Research Centre of Ecommerce has published a report showing that the country’s ecommerce trading recorded USD 2.03 trillion in the first half of 2017.   The ecommerce sector in China continues to see rapid growth on all fronts. Business-to-business transactions reached USD 1.3 trillion, while online retail sales were at USD 470 million.  …

Tencent opens its credit rating system

Tencent has opened its credit scoring system to limited group users on QQ, WeChat’s older sibling.   This marks a big step forward for Tencent:  not only does this fill in a glaring gap in their product lineup, it also puts them in direct competition with Alibaba’s Sesame Credit.   According to previous screenshots from early…

China to block personal VPNs by February 2018

  China’s government has told telcos to block individuals’ access to virtual private networks (VPNs) by February 1. According to sources to Bloomberg, state-run telcos like China Mobile, China Unicom and China Telecom have been ordered to bar people from using VPNs – tools perceived as a loophole around the Great Firewall.   China’s access…