CHINA-ECONOMY: E-COMMERCE
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The market research firm YouGov earlier this month reported that over 30% of mainland internet users believe China will be a completely cashless society within the next 10 years. The survey shows that the adoption rate of mobile payment solutions has caught up quickly, standing at 73% this year. This change happened at a startling rate, since major payment service providers like Alipay, WeChat Pay and Union Pay entered the field just a few years ago.
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