Tuesday, April 26, 2016
Sunday, April 10, 2016
|Alibaba has announced plans to launch its Alipay mobile payment service in Europe this summer.|
CRI's Victor Ning has the details.
Beginning this summer, users will be able to make payments through the Alipay app in France, Germany, Italy and the UK.
Lu Jun with Alibaba says in addition to serving as a payment option, Alipay can also help Chinese tourists plan their trips while abroad.
"Before when people traveled aboard, they usually had a hard time finding local points of interest. Now when they open Alipay, they can easily find recommendations on restaurants, sights and other places to visit. While shopping, they can also use Alipay to make payments, or even receive discounts. The vendors can also use Alipay to promote themselves and reach more Chinese customers."
Alibaba hasn't said which local businesses in Europe will accept Alipay, as negotiations are still underway.
The move marks Alipay's biggest expansion out of Asia so far.
Alibaba started moving Alipay into the global market in 2014.
It's now available for use at some 60-thousand businesses outside the Chinese mainland.
Lu Jun says Alipay has already built an impressive network in Asia.
"In South Korea alone, around 30,000 shops and businesses accept Alipay. In Seoul's famous Myeongdong commercial district, most vendors now accept the app. In Japan, our partners include a number of large shopping malls, electronics and appliance stores, as well as convenience stores like 7-Elevens. We also work with some duty-free shops in Thailand, and the Universal Studios theme parks in Singapore. "
Alibaba expects a total of one-million vendors outside the mainland to begin accepting Alipay within the next three years.
The company is ramping up its services outside the mainland to try to keep up with the growing number of Chinese people travelling abroad.
Last year, around 120 million Chinese traveled to foreign destinations.
The World Travel & Tourism Council estimates Chinese tourists spent around 215 billion US dollars abroad, doubling their spending from the year before.
Alipay is launching in Europe in partnership with Wirecard, an IT provider for payment processing.
Wirecard Executive Vice President Susanne Steidl says mobile payments have a bright future.
"Everything is focusing on a mobile phone. All additional gadgets will be reduced. No more cameras, and in the future, also no more credit cards, no more cash. All will be focused within the mobile phone, which is more convenient for the customer; it's safer for the customers. And it gives more transparency to the customer because he sees all the transactions and his available money, all on his phone, without having to logon to 20 different websites. "
Alibaba says its payment app currently processes 170 million transactions per day worldwide.
For CRI, I'm Victor Ning.
Wednesday, March 30, 2016
MBACapital Limited is one of the top Hong Kong Finance companies. June Branch, Senior Analyst at MBA weighs in on gold prices. Now that gold is on every one’s mind. The price of gold is always a hot topic. This precious metal is not only aesthetically desirable, but monetarily valuable–especially in recent years. But does gold make a good investment or is it a waste of time and money? How has it performed domestically and globally?
U.S. and Global Gold Resources
There are 33 tons of gold in the United States, but only 15 tons of that has been found. That leaves 18 tons of undiscovered gold waiting to be mined in this country alone.
On a global scale, the demand for gold jewelry has risen 34% year on year, while the demand for investment has fallen 37%. The current volume demand is 17% below what it was in Q2 2010, but that doesn’t mean it’s negligible–current demand of gold jewelry is 442 tonnes, while demand for raw gold is more than double that .
Mrs. Branch believes that investing in gold is a great hedge along with other securities that you should hold in your portfolio. An even balance so to speak. Based on a client’s needs we can find the right balance. Come see us at MBA Capital “we’re here to help”.
MBA Capital Limited
Sunday, March 20, 2016
Alibaba to Train a Million Teenagers in Rural China: Report
© Thomson Reuters 2016
Alibaba plans to train a million teenagers in rural China to help start their own online businesses, taking e-commerce to the country's vast rural areas, the official Xinhua news agency reported on Tuesday.
China's biggest e-commerce company reached an agreement with the China Communist Youth League to support the youngsters through funding, training and partnership, Xinhua said.
Alibaba Group Holding Ltd's Internet finance arm Ant Financial plans to invest CNY 1 billion (roughly Rs. 1,036 crores) to support college graduates who want to return to their home towns to start businesses.
E-commerce, whose development is strongly backed by China's leadership, is spreading quickly in rural China with more farmers selling their produce online.
Premier Li Keqiang included e-commerce expansion when he laid out his "Internet Plus" strategy in an address last week at China's annual parliamentary meeting in Beijing.
In villages, service stations have been set to help those who lack the necessary skills to trade online. Villagers can order goods at the stations and then return a few days later to collect their packages, Xinhua said.
The number of these village hubs has risen from three in 2009 to 780, with plans to add another 100,000 village stations and 1,000 county stations by 2019 at a cost of around CNY 10 billion, Xinhua said.Online sales in rural areas grew at double the pace of urban areas. Rural shoppers, who account for nearly one-third of the total, spent CNY 195 million online last year, Xinhua said.
© Thomson Reuters 2016