The smartphone industry is due to get a lot smaller, according to consumer chief of China’s Huawei Technologies. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to...
Ant Financial — parent firm of Alipay — is reportedly gearing up for a $5 billion equity funding round that could inflate its valuation all the way to $100 billion. Said fundraising would also bring the financial services company, which is still 1/3 owned by...
Chinese regulators have capped overseas withdrawals using Chinese bank cards at Rmb100,000 per year. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today....
Guangzhou — one of China’s largest cities — will be allowing residents to link their WeChat accounts to their national identity cards going forward. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content —...
China’s top ridesharing company, Didi Chuxing, has raised $4 billion in new capital as it aims to begin the next phase of its corporate life. This latest round adds to the $13 billion from investors, including Alibaba, Tencent and Apple, among others. The main focus of the...
Tencent Holdings has announced its intention to lead an $863 million investment round in apparel platform Vipshop Holdings. The investment will see Tencent throw in $604 million in return for a 7 percent stake in Vipshop. Get the Full Story Complete the form to unlock this...
With China and the U.S. possibly rolling toward a trade conflict, Alibaba founder and chairman Jack Ma had a defense to offer of his native land and complaints that it makes the barriers to entry too high for outside companies. Get the Full Story Complete...
Shared bike giants Mobike and Ofo deny they used 6 billion yuan ($909 million) of user deposits to support their rapidly expanding businesses. Anonymous sources also allege that both bike sharing companies are suffering from money mismanagement and struggling to pay bike manufacturers. Get the...
China is on the hunt for a homegrown alternative to the U.S.-based FICO score credit ranking system as it attempts to keep up with the rapid expansion in consumer loans being offered through mobile. Get the Full Story Complete the form to unlock this article...
