Pillsbury Winthrop Shaw Pittman

Market entry: virtual currency, electronic money and electronic payments

By Thomas M Shoesmith

China is the world’s second largest economy, with an annual growth rate of more than eight per cent and a rapidly growing middle class. Foreign investment into China routinely exceeds $100bn (£60bn) a year. Businesses from all over the world must have a China strategy to remain competitive and succeed in the global marketplace.

China is one of the world’s largest markets for internet use. Some reports put the number of internet users in China at 564 million — almost twice the population of the entire US and six times the number of internet users in the US (five times the number in India). In fact, China has as many internet users as the next four countries combined (US, India, Japan and Germany). The number of mobile web users in China has been estimated at 420 million…

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