Tag Archives: Mu Changchun

Visitors get a taste of Chinese online payments

Fintech Week is proving to be a global PR bonanza for Hong Kong. Local media have been buzzing for the past two days about Alipay’s decision to open its payment platform inside the Chinese mainland to foreigners, the announcement of which was clearly timed to coincide with the Hong Kong event. And Mu Changchun, the central bank’s whizzkid overseeing the imminent launch of the digital Renminbi, kept the momentum going yesterday by suggesting foreigners could use it, too.

As reported by SCMP, Mu said the central bank is working to separate the virtual currency from the banking system. “Actually it could be decoupled from traditional bank accounts,” he said during an event at Fintech Week, which is being held at the AsiaWorld-Expo. “Thus, those who don’t have bank accounts in China can still open a digital wallet and enjoy mobile payment services in China.”

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