Connect with us

China

UnionPay connects the world through seamless digital payments

Published

on

By Ge Mengchao, People’s Daily

When Indonesian tourist Nur arrived at Shanghai Pudong International Airport alongside her daughter, she began what has long been a dream vacation: exploring China’s cultural and natural landmarks.

“We plan to take a high-speed train to the Huangshan Mountain in Anhui province, then visit Jingdezhen and Sanqing Mountain in Jiangxi province. We want to explore as much as possible and experience the beauty of China firsthand,” Nur said excitedly. “On this trip, I plan to pay for everything with GoPay, something that would have seemed impossible just a few years ago.”

GoPay, one of Indonesia’s leading digital wallets, now works seamlessly with China’s payment ecosystem following the launch of cross-border QR code interoperability between the two nations earlier this year.  

“Chinese users can scan QR codes to pay at merchants in Indonesia using apps such as UnionPay, while Indonesian users can simply scan and pay with digital wallets such as GoPay at UnionPay- and Alipay-accepting merchants in China,” an executive of Chinese payment giant UnionPay said.

Over the years, UnionPay has evolved from a domestic card network into a global payment infrastructure provider, linking bilateral and multilateral payment systems to support seamless merchant acceptance, card issuance, and mobile payments worldwide.

Today, UnionPay’s digital payment capabilities extend across multiple continents. Travelers can scan QR codes for retail and dining purchases in Thailand, Malaysia, and some other Southeast Asian markets. In the Middle East, including the United Arab Emirates, visitors can settle bills at airports and in commercial hubs without needing to exchange cash. Across Africa, particularly in South Africa, UnionPay cards are widely accepted for hotel bookings, transportation, and daily expenses.

Globally, UnionPay is now accepted in 183 countries and regions, spanning more than 100 million merchants outside the Chinese mainland and connecting around 2,600 member institutions. UnionPay cards have been issued in 86 countries and regions outside the Chinese mainland, and the company has partnered with overseas institutions to launch more than 200 digital wallets based on UnionPay standards. 

Furthermore, through QR code interoperability agreements with countries including Indonesia, South Korea, Sri Lanka, Argentina, and Türkiye, UnionPay has enabled over 46 million overseas merchants to accept mobile payments from its global base.

UnionPay is also playing an active role in the transformation of the global payments industry. In recent years, through a “single-point connection” model, it has established interoperability with QR code payment networks in multiple countries and regions. It has also provided countries such as Laos and Thailand with payment switching and clearing systems and technical standards, and participated in developing domestic QR code payment standards in Singapore and Thailand. These efforts mark a shift from simply expanding its network to helping shape the rules of the industry.

“Take South Asia for example. The local payments industry is still at an early stage of development, and many institutions have limited technical capabilities. External service providers charge high fees and require lengthy development cycles,” a UnionPay executive said. 

“Our cloud-based card issuance platform, which keeps system upgrade costs low, has enabled us to bring three local institutions on board to issue UnionPay cards. Tailoring solutions to the specific circumstances and pain points of local institutions is a key principle behind successful cooperation,” the executive added.

By sharing its technology and standards, UnionPay has helped reduce payment costs in some Belt and Road partner countries, enabling them to share in the benefits of digital payments.

UnionPay’s services not only help Chinese consumers and businesses go global but have also become part of everyday life in many countries and regions. UnionPay cards are used by local residents in the United Arab Emirates, Kenya, Mongolia, Singapore, Kazakhstan and Bangladesh as salary cards and student cards, among other purposes. In Bangladesh, for example, UnionPay has issued millions of cards through long-standing partnerships with local financial institutions, making it one of the international card networks with the largest cardholder bases in the country.

UnionPay has become one of the most widely recognized Chinese service brands overseas. Nielsen, a market research and data analytics company, forecasts that UnionPay will rank first globally in the number of cards in circulation by 2030.

With its ever-expanding global network, UnionPay is making cross-border payments increasingly convenient. “Keeping pace with China’s continued expansion of high-standard opening up, UnionPay connects the world through payment services, building financial links between China and other countries that facilitate the flow of funds and foster closer ties between peoples,” a UnionPay executive said.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

China

Why the world is looking east: The growing global appeal of China’s innovation ecosystem

Published

on

By Li Hongxing, People’s Daily

One way to gauge a region’s appeal to investors and entrepreneurs is to listen to those already embedded in its ecosystem. Take a European founder based in Shenzhen, south China’s Guangdong province, who has called the city home for over a decade. He reports receiving daily inquiries from overseas startup leaders eager to visit, explore partnerships, or establish operations in China.

The steady stream of visitors eager to explore Shenzhen and its tech companies offers a glimpse into the growing global interest in China’s innovation ecosystem.

This is no fleeting trend. It underscores investors’ confidence in China and their optimism about the country’s prospects. The steady flow of overseas technology delegations, increasingly regular cross-border business discussions, and growing interest in “looking east” go beyond conventional economic and trade ties. They offer a vivid illustration of how the world is gaining a new understanding of China and seeking opportunities for cooperation and shared development.

Increasingly, entrepreneurs, researchers, and investment institutions from around the world are traveling to China to learn firsthand about its innovation mechanisms, industrial dynamics, and development pathways. Looking back at China’s evolving economic and trade ties with the world, this surging eastward focus marks a profound shift and more comprehensive, objective recognition of China’s development.

This transition from trade-centric partnerships to co-innovation rests on tangible structural advantages. Foremost among them is industrial resilience. While several major economies face deindustrialization pressures and cyclical volatility, China has maintained steady growth alongside continuous upgrading. Its comprehensive manufacturing base, extensive infrastructure networks, and large domestic consumer market provide a natural shock absorber, enabling predictable expansion even amid global headwinds.

Clustering amplifies this advantage. At a robot industrial park in Foshan, Guangdong province, for example, more than 90 percent of the components and other products needed across the supply chain can be sourced within the park. A design revised in the morning can undergo testing on the very same day. Industrial clustering, closely connected supply chains, consistent policies, and an open, inclusive market give investors at home and abroad the confidence to make long-term commitments and develop their businesses in China.

If industrial resilience provides the foundation, China’s vibrant innovation ecosystem and the rapid development of new quality productive forces are what give the country its enduring appeal.

Confidence in China’s development rests on its innovation capabilities. From basic research to practical applications, breakthroughs are emerging across a wide range of technological fields. 

These efforts are yielding visible results. In northwestern China, renewable energy projects in the Gobi Desert are powering data centers, transforming cities such as Ulanqab in Inner Mongolia and Qingyang in Gansu province into key nodes in the national computing network. 

Meanwhile, in Hefei, east China’s Anhui province, the experimental nuclear fusion device known as an “artificial sun” and the Zuchongzhi 3.0 quantum computing prototype continue to set world records, strengthening China’s position in frontier technologies. 

A recent report released by the World Intellectual Property Organization shows that China has 25 of the world’s top 100 innovation clusters, ranking first globally for the fourth consecutive year.

The more China innovates, the more the world stands to benefit. Some international observers have noted China’s increasingly important role in the global innovation ecosystem, while others have praised Chinese developers for pushing the boundaries of innovation every day. From quantitative growth to qualitative breakthroughs, and from individual advances to progress across entire systems, the vitality and rapid development of China’s innovation sector demonstrate that innovation can be made anywhere, and that practical action is what turns pioneers into leaders.

A strong industrial foundation and vibrant innovation are not enough on their own. They also need a favorable environment where they can flourish. By further opening up and continuously building a first-rate business environment that is market-oriented, law-based, and internationalized, China is strengthening the institutional foundations for attracting global resources and building momentum for shared development.

The advantages of this environment are reflected in more targeted services and the effective implementation of practical policies. Across China, for example, policies on entry visas, length of stay, residence, and support for integration are being improved to help foreign professionals put down roots, develop their careers, and grow their businesses. 

From more targeted industrial policies and efficient government services to robust intellectual property protection and an open, diverse innovation culture, China is introducing concrete reforms that make its environment more inclusive and its institutions more supportive, further enhancing its appeal as a place to develop and invest.

Looking beyond the surface reveals the deeper reasons behind the growing interest in China’s innovation ecosystem. The visible sign is the steady stream of visiting delegations; beyond that lie expanding opportunities for cooperation; at the deepest level is global confidence in China’s industrial strength, innovation capabilities, and institutional environment. Against the backdrop of global industrial transformation and rapid technological change, this interest reflects a rational assessment by market participants.

Looking ahead, China will continue to consolidate its foundations for development with the same persistence as a craftsman driving a nail, pursue new heights in innovation with the determination of a climber, and expand international cooperation with an open and inclusive mindset. By doing so, China can turn the growing global interest in “looking east” into mutually beneficial outcomes, demonstrating that China’s success can contribute to a better future for the world.

Continue Reading

China

China’s former revolutionary base areas embrace new chapter of development 

Published

on

By Li Hongxing, People’s Daily

Two bridges over the Huajiang River in southwest China’s Guizhou province offer a striking glimpse into the remarkable transformation of China’s former revolutionary base areas.

The first is the Huajiang Chain Bridge. With its iron chains and wooden-plank deck, it spans a section of the Beipan River. 

In 1935, as the Right-Flank Column of the Central Red Army advanced into southwestern Guizhou, the 11th Regiment of the Third Red Army Corps held its position here, buying precious time for the main force.

This wartime lifeline embodied the determination to overcome every challenge and fight for victory.

The other one, the Huajiang Grand Canyon Bridge, is pushing the boundaries of bridge construction in mountainous terrain through intelligent construction, innovative materials, advanced wind-resistant designs, and environmentally friendly building techniques. 

Its construction, which has set multiple world records, has effectively bridged the “gaps” created by the mountains and canyons.

The old and new bridges now stand within sight of each other, offering a vivid picture of how former revolutionary base areas have changed, and Guizhou is far from the only example.

The opening of flights at Ruijin Airport in east China’s Jiangxi province has given people in southern Jiangxi and western Fujian, both former revolutionary base areas, a new “air corridor” linking them with the rest of the country. 

The Jiajin Mountain Tunnel in southwest China’s Sichuan province has entered trial operation, turning the arduous journey “over” the mountain into a smooth passage “through” it and freeing local residents from worries about mountain closures caused by winter snow and ice.

Bridges spanning valleys, passenger planes roaring overhead, and tunnels piercing through mountains — the path to modernization for old revolutionary base areas is growing ever broader.

What is driving these once-remote areas to take on a new look? 

Major undertakings call for riding the tide of the times. Development anchored in the prevailing trends of the era ensures the right direction and provides a strong driving force. That once-remote regions are no longer isolated, and less-developed areas no longer lag behind, owes much to their ability to seize opportunities of the times and align themselves with broader development trends.

Deep in the mountains of Baisha township in Jishui county, Jiangxi province, fruit farmers are now able to sell their produce through livestreaming. This mountain hamlet, where people once “shouted to communicate and traveled on foot”, is now equipped with 5G base stations, bringing new vitality to rural revitalization.

Today, China boasts nearly 4.6 million 5G base stations and over 30.53 million gigabit-capable network ports, achieving gigabit-level connectivity for every county and 5G coverage in every township.

From snow-capped mountains peaks to seashores, from the depth of dense forests to desert steppes, digital infrastructure functions like an intricate neural network, bridging the digital divide and bringing the benefits of digital and intelligent technologies to every corner of the country.

For many regions, abundant resources and convenient locations offer a head start. Yet experience shows that the availability or scarcity of resources and other factors of production is never an absolute determinant. With the right approach and by building on their own strengths, regions can turn limitations into new advantages and cultivate new growth drivers from what they already have.

During the Chinese People’s War of Resistance Against Japanese Aggression, the people and soldiers of the Shaanxi-Gansu-Ningxia Border Region stepped up production to break the enemy’s blockade, turning Qingyang in Gansu into the “granary of eastern Gansu.”

Today, Qingyang has once again taken stock of its strengths, drawing on its abundant energy resources and cool climate to develop data centers. Massive volumes of data can travel from Shanghai to the city in a matter of seconds, while computing power in Qingyang enables entrepreneurs in Guangdong in south China to render 3D models at high speed. 

As server lights replace oil lamps and streams of digital data flow across the land, data and computing power have become a new kind of “grain,” helping drive local development while serving the needs of the country as a whole.

Industrial upgrading and regional development both require a focus on local strengths and core industries, as well as openness to wider cooperation and integration.

The Fujian-Ningxia collaboration is a case in point. New forms of cooperation, such as “Fujian enterprises + Ningxia resources” and “Fujian headquarters + Ningxia production bases,” are deepening and expanding. Freight trains under Ningxia’s multimodal transport “single-document system,” a system featuring one unified transport document covering the entire journey across different transport modes, carry full loads of goods bound for Fujian, Guangdong and beyond.

Mountains and seas no longer stand as barriers. What began as one-way assistance has evolved into two-way mutual collaboration. Cross-regional reconfiguration of production factors has made regional cooperation more resilient and substantive.

From the transformation of former revolutionary base areas to coordinated progress across regions, and from these changes to the steady and high-quality growth of China’s economy, China is continuing along its Long March in the new era, moving forward with courage and opening up new horizons.

Continue Reading

China

China leads the world in innovation clusters 

Published

on

By Gu Yekai, People’s Daily

The World Intellectual Property Organization (WIPO) recently released its 2026 ranking of the world’s top 100 innovation clusters. China accounted for 25 clusters on the list, ranking first globally for the fourth consecutive year. The Shenzhen-Hong Kong-Guangzhou, Beijing, and Shanghai-Suzhou clusters all ranked among the top 10.

The ranking identifies regions with concentrated innovation activity based on indicators including international patent applications, scientific publications, and venture capital transactions. China’s consistent strong showing on the list, with innovation clusters flourishing across multiple regions, demonstrates both the scale and depth of its innovation ecosystem.

This leadership reflects years of strategic investment in coordinated regional tech development. Regional innovation networks have become a key pillar of the national innovation framework and provide a vital foundation for building China into a leading country in science and technology. 

Coordinated development in the Beijing-Tianjin-Hebei region has fostered deeper collaboration, with Beijing focusing on research and development while Tianjin and Hebei translate research findings into manufacturing applications. 

Meanwhile, the integrated development of the Yangtze River Delta has strengthened links among innovation hubs along the G60 Science and Technology Innovation Corridor, creating a cross-regional collaborative innovation platform spanning nine cities. 

Stronger regional collaboration has cultivated a sound pattern of innovation with multiple hubs working in concert.

Beyond sheer numbers, the rankings also signal a comprehensive upgrade across China’s broader innovation system.

Innovation clusters capture the close links among research institutions, businesses, talent, and investment. In recent years, China has accelerated the commercialization of scientific and technological advances while nurturing and expanding new quality productive forces. Many of the innovation clusters on the list are also major industrial hubs. 

Wuhan in central China’s Hubei province, ranked 17th, saw the value added of its industrial enterprises above the designated size in high-tech manufacturing rise 65.7 percent year on year in the first half of this year, as its optoelectronics and information technology industries gathered pace. Ningde in Fujian province, meanwhile, climbed 24 places in the rankings, driven in large part by innovation in its power battery industry.

This virtuous cycle between innovation and development is enabling more emerging and future-oriented industries to gain momentum and grow rapidly within these clusters.

China’s leading position in the number of top 100 global innovation clusters is also creating valuable opportunities for global partners.

An increasing number of foreign-invested companies are choosing to conduct research and pursue innovation in China, with many establishing R&D centers in these clusters. In the first seven months of this year, foreign applicants filed more than 42,000 invention patent applications in China. In 2025, foreign investment actually utilized in scientific research and technical services accounted for nearly 1/5 of China’s total utilized foreign investment.

China is also committed to sharing the benefits of innovation through openness and cooperation. In the first half of this year, Chinese developers of innovative drugs reached 81 licensing deals with overseas partners, while industrial robots made in China were exported to 141 countries and regions. 

As Carsten Fink, WIPO’s chief economist, noted, Chinese innovation is pushing the frontiers of global science and technology across an expanding range of fields, with countries around the world increasingly benefiting from it.

Today, global innovation resources are increasingly converging on China through its innovation clusters.

Continue Reading

Trending

Copyright © 2017 Zox News Theme. Theme by MVP Themes, powered by WordPress.