Consumers from Zhejiang province were the second-biggest spenders by Alipay in 2015, only second to their counterparts from Shanghai, according to an annual report released by the country’s largest online payment platform. The report showed the average individual in Shanghai spent 104,155 yuan ($15,703) on Alipay last year. Zhejiang’s consumers ranked second with average per capita expenditure of 94,192 yuan, followed by Beijing, and the eastern coastal provinces of Jiangsu and Fujian…Full Article: China Daily Sept 2016
- In 2015, the average Chinese consumer spent CNY 36 [~US$5.73] per order on catering/food services (not including takeout). The most common food order was braised chicken with rice.
- In September 2016, Primavera Capital Group announced it would invest US$410 million in Yum Brands (KFC, Pizza Hut) new Chinese spinoff, while Zhejiang Ant Small & Micro Financial Services Group (Alibaba’s online payment application Alipay) would invest US$50 million.
- In April 2016, Eleme (e-commerce food delivery) stated it would work with the online payment application Alipay (Alibaba).
- As of early 2016, China’s electronic payment market was dominated by Alibaba Group’s Alipay and Tencent’s WeChat Wallet.
- In July 2015, various KFC restaurants in Beijing, Shanghai, and Zhejiang began allowing customers to pay via Alibaba Group’s Alipay.com.