BizChina

2016 Alipay get Hong Kong payment license

Alipay on screen in a Hong Kong store.

Alibaba's financial affiliate Ant Financial on Thursday said its popular payment service Alipay has received a third-party payment license in Hong Kong.

Hong Kong Monetary Authority on Thursday issued the first five stored value facilities (SVF) licenses to Alipay, Tenpay of Alibaba's rival Tencent, HKT Payment, TNG and Octopus.

Chinese APP - Car hailing

Popular APPs in Chinese smartphone market.

The Ministry of Transport of China released the country's first nationwide regulation on APP car-hailing services on Thursday, offering legitimacy for the booming industry.

The car-hailing services have been popular in China in recent years to meet with people's travel demands, but they operate in a gray area of the law. Private cars are prohibited taking paid rides.

TV shopping in China grew 13 percent in 2015, according to a report issued by the Ministry of Commerce on Sunday.

Sales by 32 TV shopping companies reached 39.9 billion yuan ($6 billion) last year and grew at 2.3 percentage points more than general retail sales.

The country will continue to promote development of TV shopping as it boosts domestic consumption, the ministry said in the report.

TV shopping industry also played a constructive role in generating jobs, with the number of employees standing at 166,000 last year.

TV shopping sales are expected to expand by 15 percent to 46 billion yuan in 2016, according to the report.

Didi APP receives $600m investment from China Life Insurance

Didi APP, China's largest mobile transportation solution provider, said on Monday that it has received about $600 million strategic investment from China Life Insurance.

According to CNNIC's report issued on the 4th Jan 2016, Didi APP occupied 87.2% market share in China.

The cash infusion, which includes an equity investment of $300 million and a long-term debt investment of 2 billion yuan ($305 million), is expected to bankroll Didi's competition with the United States-based Uber Technologies Inc.

Amid China's effort to enhance its appeal as an international tourism destination, Chinese travel agencies are seeing new business opportunities in tourists from overseas.

Ctrip, China's leading online travel agency based in Shanghai, said inbound tourism has regained the attention of travel agencies, thanks to the 10.9 percent growth of foreign visits in the first quarter of 2016.