Fake marriages will no longer earn property benefits in China 

Fake marriages will no longer earn property benefits in China 

(ATF) In many of China’s metropolises, property rules, rather than love, have been a deciding factor on whether a couple get married or divorce. To limit home-buying demand, first-tier cities such as Shenzhen have policies that say only local hukou (domestic passport) holders are allowed to buy residential properties, leaving …

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China’s new payment rules draw the line for Alipay, WeChat Pay

China’s new payment rules draw the line for Alipay, WeChat Pay

(ATF) China's central bank unveiled draft rules for online payment firms on Wednesday that say companies that have abused their dominance in the payment sphere will be forced to split up. Criteria specified by the rules has triggered red flags for both Alipay and WeChat Pay. This follows the regulators’ …

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Tencent’s WeChat changes direction from finance to live-streaming

Tencent’s WeChat changes direction from finance to live-streaming

(ATF) With an estimated 1.09 billion users Tencent’s mobile app WeChat is ubiquitous on the mobile phones of anyone working and living in China. It emerged as an evolution of QQ, Tencent’s copy of Microsoft’s messenger. WeChat combines the functions of Facebook, Whatsapp, Twitter and other commonly used apps outside …

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Jack Ma video only deepens the Alibaba mystery

Jack Ma video only deepens the mystery

(ATF) A video has appeared with billionaire Jack Ma giving a short talk to teachers working at one of his charitable projects. As the charity usually meets at this time of year, Ma says with regret they will have to meet again after the epidemic. But no details were given …

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Rare earth prices go through the roof as China tightens supply

Rare earth prices to go through the roof as China tightens supply

(ATF) Rare earths have had another price spike – of around 11% – as China begins to discuss further export restrictions. China currently mines and processes as much as 90% of the world’s rare earths. Even rare earth deposits from other countries are sent to China as only the PRC …

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Alibaba shares soar after Jack Ma re-emerges

Alibaba shares soar after Jack Ma re-emerges

(ATF) Shares in internet tech giant Alibaba soared on Wednesday after its founder Jack Ma resurfaced after nearly four months, and ended speculation about his well-being. The company's stock shot up 10.5% on Hong Kong, adding HK$600 billion (US$78 billion) to the company's capitalization, after the billionaire appeared in an …

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PayPal 'no threat' to Alipay but export payments already $700m

PayPal 'no threat' to Alipay but export payments already $700m

(ATF) PayPal, which recently took full control of Chinese payment service provider Guofubao Information Technology Co Ltd – GoPay – is in no position to compete with Alipay or WeChat Pay in China’s domestic market, sources close to the firm say. PayPal is likely to continue to focus on cross-border …

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