In the News: PayPal Enters China; IP Theft Tops Risk Survey; and Arbitration Arrangement Takes Effect

PayPal acquires controlling stake in Chinese payments company; Trade war, IP theft biggest worries for companies in China, survey finds; and Hong Kong-mainland arbitration interim measures arrangement takes effect

7 minute readOctober 07, 2019 at 07:02 AM

Vincent Chow

In the News: PayPal Enters China; IP Theft Tops Risk Survey; and Arbitration Arrangement Takes Effect

China approves first foreign digital payments company to enter market

PayPal will be the first foreign company to enter China's digital payment market after acquiring a majority stake in domestic payments firm Gopay. The People's Bank of China (PBOC), China's central bank, approved Gopay's sale of a 70% stake to PayPal which gives the popular U.S.

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