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AlphaPay Donates to Wuhan Through Vancouver Young Elite Association

Vancouver, Canada – (Feb 20, 2020)–AlphaPay donated to Wuhan throughVancouver Young Elite Association to purchase medical materials.

The virus makes many unfortunate people suffer from the menace of illness and confront the fear of death. To hearten the people of Wuhan and make a contribution to the fight against the virus, many Chinese Canadian companies showed our strongest support. Constant warm actions and kind words from the people in Canadian society showed us to believe that there are no dilemmas that can not be broken through by a large and cohesive country with a population of 1.4 billion.

A total of over $40,000 through this event, and this money will be used to purchase medical materials from overseas and will be scheduled by air to the hospitals in Hubei province.

Our Partners:

Alibaba created a $144 million fund to buy medical supplies for Wuhan and Hubei province, the epicenter of the virus outbreak, and it’s offering AI computing power to research organizations searching for a vaccine or treatments.

Tencent, another Chinese giant, founded a $42.7 million fund for medical supplies for Wuhan.

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

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 travelling overseas and overseas customers who purchase products from Chinese e-commerce sites. Alipay supports the settlement of 18 currencies. For more information: https://intl.alipay.com/

Contact:

AlphaPay PR
media@alphapay.com

Instagram: @alphapay_official
Facebook: @AlphaPayoffcial

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.