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American PayPal likely to settle in Chongqing

25 Nov

Chongqing Foreign Trade and Economic Relations Commission released that PayPal from America, the famous operator of the payment instrument for online transaction, was preparing for establishing a subsidiary in Chongqing. Once it was successful, commercial tenants all over the world could do settlement in Chongqing for purchasing online products made in China.
If PayPal settles in Chongqing, this subsidiary will be its first wholly-owned one in China, which may be in Yuzhong District with the registered capital of about 100 million yuan. What is more, it can bring more than 100 strategic partners and then they together will form an industrial cluster of International Electronic Commerce for Chongqing, which may attract more international electronic enterprises to settle in Chongqing. Source CFTERC

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China’s 2nd largest financial leasing company in Chongqing

28 Sep

China’s 2nd largest Kunlun Financial Leasing Company, co-built by PetroChina and Chongqing Machinery & Electronics Holding Group was set up in Chongqing . With a registered capital of 6 billion yuan, the company is the largest in the middle and west China and mainly offering equipment leasing for SMEs, large equipment manufacturing companies and energy companies.

It will boost the construction of the financial centre in the upper reaches of the Yangtze River and west China, said Chongqing Mayor Huang Qifan on the opening ceremony.

China. Super internet bank to enter Chongqing in November

13 Sep

Super internet bank was expected to enter Chongqing in mid-November, according to Chongqing Operations Office, the People’s Bank of China on Aug. 30. Super internet bank, the 2nd generation of the online payment interbank liquidation system led by the central bank, could provide 24-hour interbank fund remittance and transfer, interbank account and accounting checking for both individual and unit, and could also provide functions like interbank deduction and third-party payment whichthe current payment system couldn’t realize. Some analyst said this new system would cut the cost of the internet bank of each bank, so the transfer charge could be reduced.

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