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Economic Watch: China Carefully Returns to Work Amid the Anti-epidemic Battle

Policeman Wu Shengzao (1st L) patrols with his colleagues at the Daxing International Airport in Beijing, capital of China, Feb. 1, 2020. (Photo by Peng Ziyang/Xinhua)

BEIJING, Feb. 10 (Xinhua) — Chinese authorities are carefully balancing efforts to control the novel coronavirus epidemic and minimize its impact on the economy as millions of people head back to work Monday after an extended holiday.

In a circular released over the weekend, the State Council, or China’s cabinet, urged efforts to protect workers from getting infected and meanwhile resume production as soon as possible.

Companies providing epidemic control supplies and services such as medical material and daily necessities are among the first groups to resume work and have already begun racing back to full capacity to fight the novel coronavirus outbreak.

The virus was first detected in central China’s city of Wuhan in December. Easy to transmit from person to person, it has kept people indoors and led to a sharp increase in demand for protective equipment like masks and goggles.

About 73 percent of the country’s mask production capacity had been recovered by Friday, according to Chen Da, an official with the National Development and Reform Commission, the country’s top economic planner. For medical masks, the rate has gone up to 87 percent.

Trucks loading medical devices set out for Hubei Province, in Qinhuangdao, north China’s Hebei Province, Feb. 5, 2020. Two vehicles carrying ten medical devices donated by a medical system enterprise in Qinhuangdao set out to help hospitals in Xianning City of Hubei fight against novel coronavirus outbreak. (Xinhua/Yang Shiyao)

Courier companies are also resuming service Monday as they are essential to meet people’s daily needs and guarantee the delivery of resources for epidemic control.

Logistics companies are expected to restore over 40 percent of their normal handling capacity by mid-February and continue to increase the capacity according to the development of the epidemic outbreak, according to the State Post Bureau.

For other sectors, production is recommencing in a steady but more gradual manner as both authorities and entrepreneurs are cautious over the novel coronavirus epidemic which has killed 908 and infected more than 40,000 on the Chinese mainland by Sunday.

In Shanghai, the latest official survey showed that more than 80 percent of the local manufacturing companies are willing to resume work, of which about 70 percent have already done so.

Meanwhile, 80 percent of Shanghai’s software and information service enterprises have returned to work, and 70 percent of their employees have chosen to work from home using telecommuting and video teleconference services to avoid infection.

Wu Jinzhong, head of eyewear maker Roring Industries in China’s southeastern Fujian Province, said only half of his 900 employees would resume work Monday.

“We advised workers outside the province not to rush back, while local employees need to be investigated whether they have traveled out of town in the past two weeks,” he said.

Wu said he has also increased spending to prevent the disease, including providing larger workspaces and essential protection materials like face masks.

People make protective suits at the workshop of a company in Fuzhou, southeast China’s Fujian Province, Feb. 2, 2020. To help fight the outbreak of pneumonia caused by novel coronavirus, workers of many medical material companies rushed to work ahead of schedule. (Xinhua/Lin Shanchuan)

To support small and medium-sized enterprises (SMEs) in work resumption, the Ministry of Industry and Information Technology (MIIT) has pledged to help with the supply and transportation of raw materials as well as protective gear like masks and body temperature detectors.

Local governments are encouraged to reduce or waive taxes and administrative fees on certain SMEs, increase subsidies to corporate training programs and extend the payment deadline for their electricity and gas bills to back them in harsh times, said the MIIT.

Likewise, local governments are ordered to take measures to help foreign-funded companies resume production and operation in an orderly manner.

Particular support shall go to large foreign investment projects, according to the commerce ministry, which called for coordinated efforts to solve their difficulties and minimize the impacts of the epidemic.

Now with the country heading back to work, many are confident that the potential economic blow brought by the national production halt is expected to be only a short-term, one-off hit against China’s solid economic foundation.

The epidemic might disturb economic activities in the first quarter of this year, but the economy is likely to steady shortly after the epidemic is contained, as the unleashing of pent-up demands will make up for previous weak economic performance, said Pan Gongsheng, vice governor of China’s central bank.

From Great to Excellent! AlphaPay Received The Honor of The “Best Business Development Award” from Alipay

Vancouver, Canada – (Jan, 2020)–  AlphaPay’s foothold in the advanced payment industry with forward-thinking affirmation and honored recognition by our partners. AlphaPay enhances its strong strength in the cross-border payment field and solidates the foundation for further in-depth cooperation with Alipay.
While Alipay has grown rapidly in its recent years of Canadian operations, the Chinese mobile payment giant works with AlphaPay and this collaboration involves the focus of spending patterns of tourists, students and other consumers from China, rather than potential local consumers. During this annual award event, Alipay shared its successful business strategy and potential business opportunities in North America. AlphaPay is inspired by the discussion with Alipay and structured future market strategies to connect local businesses to the world market with endless possibilities.
Through the continued partnership with Alipay, winning the “Best Business Development” award summarized AlphaPay’s accomplishment for the past years. In the future, Alpha Pay will continue to adhere to the principles of “empower the partnership to benefit all sizes of businesses” with Alipay, and provide customized payment solutions for local merchants to expand their business outreach by integrating Chinese mobile payment technology.
Over the past few years, mobile payment technology is rapidly growing and getting popularized in North America. The overseas journey has just begun from “0 to 1” followed by the unlimited capabilities moving forward. AlphaPay believes that this year the Chinese mobile payment technology will begin to take off. Exploring the infinite possibilities beyond payment, it is the starting point of the transformation from “1-infinity”.
The mobile payment is gradually going global and becoming a payment trend according to people’s living habits. Mobile payment is everywhere in our daily lives from grocery shopping to international traveling. As one of the world’s largest payment platforms, Ant Financial’s Alipay—a breakthrough in traditional payment method with cash or card, and brought people into a e-wallet era.
Cross-border payment is one of the unique features of Alipay in overseas markets. Alipay partnered with local fintech companies such as AlphaPay. Integrating mobile payment technology into tens of thousands of merchants to service to Chinese tourists, Chinese overseas Chinese and overseas students in Canada with their preferred payment method. The real-time exchange rate and local currency settlement is more favorable than any other payment to settlement process.
In the future, AlphaPay will work with Alipay to provide a cross-border payment with full service experience for merchants in Canada. We will create an extraordinary ecosystem with payment and marketing solutions to initiate more local market activities on marketing platforms with full services in North America. AlphaPay and Alipay will always be working together to develop and improve cross border payment technology to bring the world unlimited possibilities for the future.

ABOUT Alipay

Launched in 2004, Alipay currently has over 450 million active users. Alipay has evolved from a digital wallet to a lifestyle enabler. Users can hail a taxi, book a hotel, make appointments with doctors, buy movie tickets, pay utility bills or purchase wealth management products directly from within the app. In addition to online payments, Alipay is expanding to in-store offline payments both inside and outside of China. Over 2,000,000 brick-and-mortar merchants now accept Alipay across China. As of October 2016, Alipay is supported in 70 overseas markets, with in-store payments covering more than 100,000 retail stores, and tax reimbursement via Alipay is supported in 24 countries and regions. Alipay works with over 40 overseas financial institutions and payment solution providers to enable cross-border payments for Chinese traveling overseas and overseas customers who purchase products from Chinese e-commerce sites. Alipay supports the settlement of 18 currencies.

ABOUT AlphaPay

AlphaPay is a major influencer in the borderless payment technology space in Canada. As a forward-thinking FinTech company, AlphaPay has developed and distributed payment technology services to bridge the gap between North American businesses and 1.1 billion users of Alipay, WeChat Pay, and UnionPay through borderless payment technology. For more information: www.alphapay.com

Media Contact:

AlphaPay PR
media@alphapay.com
Phone: 1-855-937-7888
https://www.alphapay.com/

science world vancouver family day children chinese education future imax teaching

Vancouver Science World Accept Alipay and WeChat Pay to Bring The Future to Science

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Vancouver, Canada – (Dec 21th, 2019)  AlphaPay, a major influencer in the borderless payment technology company, announced that it has launched a partnership with Telus World of Science (“Science World”) to add world’s leading mobile payments technology Alipay and WeChat Pay to Science World powered by AlphaPay. This new payment technology enabled mobile payment users to pay by scanning its QR code on Alipay or WeChat Pay at Science World. 

For the past generation, Science World British Columbia has been widely respected throughout BC and across Canada as a vibrant centre for informal learning. Built for the 1986 World’s Fair, Science World is the modern-looking landmark building at the east end of False Creek that looks like it has a giant mirrored ball on top. Inside that ball is the OMNIMAX Theatre where visitors can see terrific films on the world’s largest domed movie screen. Science World is full of entertaining and scientific displays and activities. It’s highly recommended for young children (preschool and elementary aged), but also for people of all ages (and especially those accompanying young children). Higher volume of visitors travelling from overseas drives in the demand of Chinese mobile payment acceptance for Science World because of its popularity among Chinese families. 

It’s a shared mission for AlphaPay, Alipay and WeChat Pay to help hundreds of millions of Chinese families with preferable payment method when travelling overseas with their children. AlphaPay is proud to assist in the process of offering Science World the payment method with which they are most comfortable. Chinese visitors are expected to be up 40% in 2020 compared with 2019. A recent Nielsen report also revealed that 91% of Chinese tourists travelling abroad would likely spend more if merchants accepted Chinese mobile payment channels.

The partnership also sees Science World automatically enrolled in Alipay’s merchant listings, which instantly increases awareness of its location to visitors by pushing notifications on their phones where they can see as activities and exhibitions, business hours, get directions and even purchase coupons to Science World. AlphaPay is excited to be working with Science World to bring future to science. This partnership will enhance Science World appeal to Chinese mobile users by providing them with familiar payment experience they enjoy at home and by completing transactions in Chinese Yuan. 

ABOUT Science World

Science World is a BC-based charitable organization that engages the people of British Columbia in STEAM literacy (science, technology, engineering, art and design, math). Their mission is to ignite wonder and empower dreams through science and nature. Their vision is that within a generation, Canada will be a country of thriving, sustainable communities rooted in science, innovation and a deep connection to nature. 

ABOUT AlphaPay 

AlphaPay is a major influencer in the borderless payment technology space in Canada. As a forward-thinking FinTech company, AlphaPay has developed and distributed payment technology services to bridge the gap between North American businesses and 1.1 billion users of Alipay, WeChat Pay, and UnionPay through borderless payment technology. For more information: www.alphapay.com

Media Contact

AlphaPay 

media@alphapay.com 

Phone: 1-855-937-7888

 

The Keg Steakhouse Enables Chinese Mobile Payment to Keep Its legacy Growing

Vancouver, Canada – (ALPHAPAY TO INSERT DATE)– To kick-off the new year of 2020, the Canadian-owned restaurant chain The Keg Steakhouse and Bar (“The Keg”) have enabled Chinese mobile payment—Alipay and WeChat Pay powered by AlphaPay in 14 locations across Canada.

As one of the top restaurant brands in Canada, The Keg is acknowledged as the number-one restaurant from the point-of-view of service and food. The Keg is well known for buying up historic properties, refurbishing them and turning them into restaurants, this restaurant chain became ironic and recognizable among residents and tourists from around the world.

The chain is working with AlphaPay, a forward-thinking Canadian Fintech company, specialized in cross border payment solutions to connect Chinese mobile payment users with Canadian business owners.  

This collaboration will allow customers to pay via Alipay and WeChat Pay to complete transactions on the mobile-based QR code payment platforms at The Keg. The new payment system simply implemented to the existing Eigen POS terminal which can integrate Alipay and WeChat Pay cross-border payment technology to their platform.

When customers dine at The Keg, the payment can be done either from customers by scanning The Keg’s POS terminal QR code signage or the server scans customers’ payment QR code on their mobile devices. The secured payment soon be done after inputting the pre-set password on customers end.

In particular, the cross-border payment technology is designed to convenient mobile payment users that are mainly Chinese and covered 93% of the mobile payment users among global Chinese community.

Since the tourism market from China has been growing significantly over the last decade in Canada, AlphaPay foresees the prospect of providing a borderless payment solution to help restaurant chain potentially reaching out to 1.1 billion overseas customers.

Moreover, AlphaPay’s payment solution is removing all processing issues that are typically associated with cross-border payment. For instance, more locations will follow as the restaurant chain claims to accept Ali Pay and WeChat Pay in Canada.

ABOUT The Keg

The Keg Steakhouse + Bar has been serving great steaks across Canada and the US for over 45 years. Quality has been a cornerstone of The Keg’s success since its first restaurant opened in Vancouver in 1971. The Keg’s focus has been, and continues to be, on providing exceptional service and quality food in a comfortable atmosphere for its guests.

ABOUT AlphaPay

AlphaPay is a major influencer in the borderless payment technology space in Canada. As a forward-thinking FinTech company, AlphaPay has developed and distributed payment technology services to bridge the gap between North American businesses and 1.1 billion users of Alipay, WeChat Pay, and UnionPay through borderless payment technology. For more information: www.alphapay.com

Media Contact

AlphaPay

Tel: 1-855-937-7888

Email: media@alphapay.com