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Will China Be the First Country to Phase Out Cash?

October 11, 2017 By Liu Sha

Historians say that paper currency was invented by the Chinese during the Tang Dynasty. Today, their descendants are taking the lead again: Young Chinese are abandoning cash. Shop anywhere in China–from a grand shopping mall to a small street vendor–and you can use your smartphone to pay. Of course, the wide acceptance of smartphones and 4G internet is one thing, the rise of fintech firms like Ant Financial is another. Yet to seriously phase out cash, authorities and professionals are pursuing something more than just QR codes: digital currencies based on blockchain technology. Despite the cracking down on unfavorable operations like ICOs, China is studying blockchain in a rather serious way.

Filed Under: All Articles, China, Digital Economy, Finance, Know China, Mobile Commerce Tagged With: Alipay, cashless, Mobile Payments, WeChat

Mobile Wallets in China: Click to Pay

July 30, 2015 By Li Hui

Mobile wallets are taking off in China but it is too early to say what they mean for the use of cash and bank cards.

Filed Under: All Articles, Best Practice, Consumers, Digital Economy, eCommerce, Infographics, Know China, O2O Tagged With: Alipay, Baidu, Mobile Payments, O2O, Slider, Tencent, WeChat

Who’ll Win? Visa and MasterCard Versus UnionPay

March 31, 2015 By Chris Russell (Additional reporting by Milo Zhang)

Long kept at arm’s length, will foreign bank card companies finally get a fair crack at the China market which is dominated by UnionPay?

Filed Under: All Articles, Best Practice, Consumers, Finance, Know China, Policy and Law, The Chinapreneurs Tagged With: Alipay, eCommerce, Mobile Payments, PBOC, Slider, UnionPay, Visa, WTO

Yidao Yongche: Is China’s Uber Better than Uber?

January 7, 2015 By Major Tian

In just about three years, Yidao Yongche has carved a niche for itself in China’s car rental market. And now it is going global.

Filed Under: All Articles, Best Practice, Branding, Consumers, Conversations, Marketing, Q&A Tagged With: Baidu, Car Rental, Didi Dache, Government Regulation, Kuaidi Dache, Mobile Payments, Slider, Uber, Yidao Yongche

Is Mobile the Future of Banking?

December 10, 2014 By Neelima Mahajan

Mobile banking is proving to be a disruptive force for traditional branch banking. What is the future of banking as we know it—and the future of cash?

Filed Under: All Articles, Banking, Best Practice, Consumers, Digital Economy, Finance, Technology Tagged With: B2B, Bitcoins, Infrastructure, Mobile Banking, Mobile Payments, Slider, Telecommunications, Walmart

Will WeChat Succeed in Mobile Commerce?

August 26, 2014 By Li Hui

WeChat, China’s wildly popular social messaging app, is experimenting with mobile commerce in a bid to become an all-in-one platform. What are the odds of success? Twenty two-year-old Yin Junyu has been selling fashion accessories made of synthetic pearls and designer jewelry replicas for the last two years at a small store in Beijing’s Tongzhou […]

Filed Under: All Articles, Digital Economy, eCommerce, Mobile Commerce, Technology, Videos Tagged With: Dianping.com, Facebook, JD.com, Mobile App, Mobile E-Commerce, Mobile Payments, Online Shopping, Slider, Social Commerce, Tencent, WeChat

China Round-up: More Chinese IPOs in the US; Alibaba Buys UCWeb; and Inflation Woes

June 13, 2014 By Major Tian

The week that was: Alibaba continued to make waves with its UCWeb buy and China Post tie-up; Baidu tied up with Vanke; and expect more Chinese IPOs in the US. Alibaba Remains Active Before IPO China’s dominant e-commerce giant Alibaba continues to make headlines this week, as the company buys out UCWeb for an undisclosed […]

Filed Under: All Articles, China Round-up, Chinese Economy, Digital Economy, eCommerce, Finance, Know China, Logistics, Real Estate, Stock Exchange, Technology Tagged With: Alibaba, Baidu, Chinese Economy, Dianping.com, eCommerce, Inflation, IPOs, Mobile Payments, Morgan Stanley, PBOC, Slider, Vanke

China’s innovation ability is massively underrated

September 17, 2013 By Neelima Mahajan and Major Tian

  Centuries ago, China was known as a greater inventor, famous for the Big Four inventions: the compass, gunpowder, papermaking and printing. But today, technology breakthroughs like that can barely be seen anywhere except in the history books, and ‘Made in China’ has often come to stand for mass-produced, cheap and commoditized. But can China […]

Filed Under: All Articles, Best Practice, China, Connections, Conversations, Emerging Economies, Innovation, Q&A, Technology, Videos Tagged With: Innovation, Mobile Payments, Slider

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Information, analysis, and interviews about the Chinese economy and doing business in China, from the people who know it best. Presented by the Cheung Kong Graduate School of Business, China's leading business school.


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