PYMNTS-MonitorEdge-May-2024

china

China, officially the People's Republic of China, is a country in East Asia and the world's most populous country, with a population of around 1.404 billion in 2017. Covering approximately 9,600,000 square kilometers, it is the third or fourth largest country by total area.

Report: Apple Removes Generative AI Apps From China App Store
Report: Apple Removes Generative AI Apps From China App Store
August 01, 2023  |  artificial intelligence

Apple has reportedly removed more than 100 generative artificial intelligence (AI) apps from its China app store. The move was made Tuesday (Aug. 1) and...

READ MORE >
Report: Shein and Temu Fight Two-Front Battle for Fast-Fashion Market
Report: Shein and Temu Fight Two-Front Battle for Fast-Fashion Market
July 30, 2023  |  Retail

Earlier this month, Chinese fast-fashion brand Temu sued rival Shein, accusing it of “intimidation.” That suit followed an earlier one filed in federal court in March in which...

READ MORE >
Luxury Retailers Say Slowdown Is a Sign of ‘Normalization’
Luxury Retailers Say Slowdown Is a Sign of ‘Normalization’
July 30, 2023  |  Retail

After going “bonkers” during the pandemic, the luxury retail sector is returning to its baseline.  For years, luxury retailers enjoyed a post-pandemic boom thanks to...

READ MORE >
Alipay and WeChat Pay Add Links to Visa and Mastercard
Alipay and WeChat Pay Add Links to Visa and Mastercard
July 21, 2023  |  Payment Methods

Visitors to China can now link their Visa and Mastercard accounts to the country’s most popular mobile payment applications, Alipay and WeChat Pay. Ant Group, the operator of Alipay, said Friday (July...

READ MORE >
Why a VIP Membership at Luxury Department Store Harrods Will Cost Shoppers $21,000
Why a VIP Membership at Luxury Department Store Harrods Will Cost Shoppers $21,000
July 19, 2023  |  Retail

While Richmont has essentially declared that China isn’t buying, prestigious London department store Harrods is preparing to unveil an exclusive club in Shanghai. This step not...

READ MORE >
Richemont Confirms China’s Diminishing Role in Luxury Retail 
Richemont Confirms China’s Diminishing Role in Luxury Retail 
July 18, 2023  |  Retail

China, once hailed as the savior of the luxury sector, is no longer providing the same support as before, at least for now. The industry...

READ MORE >
China’s Generative AI Regulations Go Live Next Month
China’s Generative AI Regulations Go Live Next Month
July 17, 2023  |  News

China is a famously hands-on nation when it comes to controlling information within its borders. Still, that hasn’t stopped some of the world’s largest technology...

READ MORE >
Flywire and Tencent Financial Team on International Tuition Payments for Chinese Students
Flywire and Tencent Financial Team on International Tuition Payments for Chinese Students
July 13, 2023  |  Partnerships

Flywire and Tencent Financial Technology have teamed up to provide a convenient way for Chinese students to make international tuition payments. This partnership will use the digital wallet Weixin...

READ MORE >
Report: Amazon Sellers Allege Copyright Violations in Lawsuit Against Temu
Report: Amazon Sellers Allege Copyright Violations in Lawsuit Against Temu
July 12, 2023  |  Retail

Multiple Amazon sellers reportedly said their listings, including product images and descriptions, were replicated by other sellers on Temu. The continuous presence of Temu’s infringing listings has prompted...

READ MORE >