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...“The increase of digital renminbi’s market share will come at the expense of WeChat Pay and Alipay,” says Zou Chuanwei, a specialist in digital currency at Wanxiang Blockchain, a research institute in Shanghai...
...Additional reporting by Ma Nan in Shanghai and Gloria Cheung in Hong Kong...
...A year after Alipay, a PayPal-like affiliate of ecommerce giant Alibaba, began selling a money-market fund through the Yu’e Bao (Leftover Treasure) platform, the product has more than 541bn yuan ($87bn)...
...Yu is old enough to remember the privations of the post-Mao years. She remembers visiting her grandparents in Shanghai and falling ill with a fever....
...Furthermore, the WSJ adds: Yu Jian Ping, chairman of Beijing Sanjili, said the joint venture is aimed at tapping into China’s hefty saving pool, where household savings reached around 20 trillion yuan in...
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