The 100 billion yuan determine can be dwarfed by the volumes recorded by the nation’s high cost suppliers resembling Tencent’s WeChat Pay and Ant Group’s Alipay. The latter, for instance, processed funds price 118 trillion yuan ($16.4 trillion) within the 12 months ending in June 2021, in line with the SCMP’s report. Ant Group is the fintech affiliate of Chinese language e-commerce large Alibaba, which additionally owns the SCMP.
