On the evening of January 5 (local time), US President Donald Trump signed a decree banning financial transactions using eight Chinese apps, including Alipay, the world’s largest online payment platform. .
The latest ban by the US government has blocked Chinese products and technologies from entering the US market, notably Alipay, the most widely used payment platform in the world with more than 1 billion users. .
| Alipay is the world’s largest online payment platform. Photo: Shuttershock |
Alipay is owned by Ant Group, a subsidiary of Alibaba – a group founded by billionaire Jack Ma.
The new ban also blocked Tencent’s Wechat app, a rival to Alipay, the same entity that Trump intended to ban its US operations last year after the Justice Department said the app posed a threat to security US national security.
The Ordinance issued on January 5 will give the US Department of Commerce the authority to decide which forms of transactions will be banned.
According to the News Newspaper / WSJ
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