China reportedly made an app to show people if they’re standing near someone in debt — a new part of its intrusive ‘social credit’ policy

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A province in northern China developed an app to tell users whether they are within a 500-meter radius of someone in debt, state media said.

  • It’s called a “map of deadbeat debtors,” the China Daily state-run newspaper reported.
  • It hopes to get citizens to monitor the so-called debtors and report them to authorities if they seem “capable of paying their debts.”

It’s part of China’s invasive “social credit” system, designed to judge a person’s trustworthiness. People have already been punished by it.

Continue reading… “China reportedly made an app to show people if they’re standing near someone in debt — a new part of its intrusive ‘social credit’ policy”

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Millions of Chinese tourists are spurring the growth of mobile pay overseas

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  • Just as overseas luxury stores have hired Mandarin-speaking staff to serve Chinese tourists, more tourist destinations may feel the need to accept Chinese mobile payment such as Alipay and WeChat Pay.
  • Three-fourths of supermarkets and convenience stores in Singapore, Malaysia and Thailand now accept Chinese mobile payment, according to a Nielsen survey released Monday in cooperation with Alipay.
  • The adoption rate has increased rapidly in the last two years, and last year more Chinese tourists used mobile pay abroad than cash, the report said.

Continue reading… “Millions of Chinese tourists are spurring the growth of mobile pay overseas”

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Rise of foreign stars in Chinese social media marks the beginning of a new trend

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China’s internet celebrity economy has expanded exponentially in recent years. According to a report released by iResearch, the number of online celebrities in China with more than 100,000 followers has increased by 57.3 percent since 2016.

With a single embedded ad in a WeChat post worth up to $145,000 USD for influencers with dedicated followings, and a total market estimated at $14 billion USD in 2018 by Beijing-based research agency Analysus, it’s a sizeable, attractive market for internet personalities.

Chinese internet celebrities have capitalized on these huge audiences and lucrative businesses, but foreigners have started to realize they can join in the fun.

Continue reading… “Rise of foreign stars in Chinese social media marks the beginning of a new trend”

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In Urban China, cash is rapidly becoming obsolete

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SHANGHAI — There is an audacious economic phenomenon happening in China.

It has nothing to do with debt, infrastructure spending or the other major economic topics du jour. It has to do with cash — specifically, how China is systematically and rapidly doing away with paper money and coins. Continue reading… “In Urban China, cash is rapidly becoming obsolete”

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