China is at the forefront of efforts to revolutionize digital mobile cross-border payment systems. Already, traders on the 21st century digital silk road are sending payments from Hong Kong to the Philippines and Pakistan, among other places, in mere seconds using blockchain-based, cross-border, mobile digital wallets from Chinese tech giants, including Ant Financial’s Alipay and Tencent Holdings Ltd.’s… Continue Reading
Alibaba group vice president Liu Chunning was taken into custody by Chinese police for corruption and bribery, according to local reports.
Liu was previously a Tencent executive and his arrest was due to report by Tencent, which competes directly in online video area with Alibaba’s film and video business. … Continue Reading
China has officially launched 50 social media accounts run by internet police to target illegal and harmful online information.
The 50 social media accounts were launched on popular microblog site Weibo, mobile messaging app WeChat, and Baidu’s online community Tieba, covering 13 provinces and 37 cities.… Continue Reading
Recent Chinese media reports put numbers to the Communist Party’s heavy presence in the mainland’s internet sector. These statistics, viewed against the backdrop of recent corruption scandals in this industry, spell significant FCPA risk for multinational companies.… Continue Reading