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CHINA BRIEF | ByteDance’s market capitalization hits between USD 100 billion and USD 140 billion
The firm’s value has risen more than a third within two years.
1 min read
Ant Group
The company’s digital payment services have been used by more than one-third of the country’s population.
A total of 150 million users had enrolled in various online mutual aid programs in China by the end of 2019.
China’s BSN will greatly reduce the barrier to entry for firms looking to leverage blockchain technology and hopes to expand to include global SMEs.
The online bank’s average outstanding loan size is USD 4,300.
Paytm was valued at USD 16 billion last year when the US-based asset manager T Rowe Price—as a new investor—poured USD 150 million into the Noida-based company.
The e-signature market in China was estimated to reach more than half a billion USD last year.
The move comes after major tech companies like Tencent, Ant Financial, and Meituan have all launched similar platforms.
Consumers aim to save more and spend less in the future after experiencing the economic turbulence of the COVID-19 pandemic.