Opinion: Data Security Becomes a Core Issue for Doing Business in China
As many people know, China is now a major digital economy. By the end of 2020, almost a billion people had access to the internet in China. WeChat, China’s largest social media platform, surpassed 1.2 billion monthly active users in 2020, and Douyin, the Chinese twin of TikTok, now has over 600 million daily active users. Meanwhile, over 700 million monthly users now visit e-commerce platform Pinduoduo. Alibaba-affiliated Alipay and Tencent’s WeChat Pay — the domestic e-payments giants that pioneered new payment technologies using QR codes — currently process about 95% of the digital payments market in China.
Edward Tse is founder and CEO of Gao Feng Advisory Company, a global strategy and management consulting firm with roots in greater China.
- 1China’s Communist Party Fills 10 Central Committee Vacancies
- 2China’s Population Falls by 3.39 Million, Largest Drop Since 2022
- 3U.S. Proposes Expanding China Investment Controls to Biotech
- 4Moonshot AI Launches More Powerful Kimi Model
- 5China’s Industrial Profits Surge, but Recovery Remains Uneven
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas
Sign in with Google
Sign in with Facebook
Sign in with 财新