Ant Group Powers the Greater Bay Area's "One-Hour Living Circle" and Fuels Global "ChinaTravel Boom"

Tech 2024-11-21 19:23:04 Source: Network

Ant Group Powers the Greater Bay Area's "One-Hour Living Circle" and Fuels Global "ChinaTravel Boom"Rapid advancements in digital technology are reshaping the Greater Bay Area (GBA), fostering a more convenient "One-Hour Living Circle." At the 2024 World Internet Conference's "GBA Internet Development Forum," Li Yongshi, General Manager of Ant Group's Greater China region, highlighted the company's significant progress in promoting GBA interconnectivity and enhancing payment convenience for foreign visitors to China, injecting new vitality into the global "ChinaTravel boom

Rapid advancements in digital technology are reshaping the Greater Bay Area (GBA), fostering a more convenient "One-Hour Living Circle." At the 2024 World Internet Conference's "GBA Internet Development Forum," Li Yongshi, General Manager of Ant Group's Greater China region, highlighted the company's significant progress in promoting GBA interconnectivity and enhancing payment convenience for foreign visitors to China, injecting new vitality into the global "ChinaTravel boom."

Ant Group's "Three-Wallet Interconnection" project across Guangdong, Hong Kong, and Macau has significantly improved the digital living experience for residents. Data shows that over 10 million Hong Kong users utilized AlipayHK e-wallet for mainland transportation in the past year, showcasing a dramatic increase in cross-border travel convenience. This convenience extends beyond cross-border shopping to daily commuting. AlipayHK now supports public transport codes in six popular cities for Hong Kong residents (including Guangzhou, Shenzhen, and Shanghai), enabling "one-code travel" and on-demand ride-hailing services.

Ant Group Powers the Greater Bay Area

To further enhance the Bay Area's travel experience, Alipay and AlipayHK jointly launched the "Bay Area Pass" during the National Day Golden Week this year, enabling seamless transportation across Shenzhen, Guangzhou, and Hong Kong, covering buses, subways, ride-hailing, and trains. The "Bay Area Pass" marks the first instance of two-wallet linkage for transportation discounts within Ant Group's GBA digital interconnection projects. Mainland users can purchase the pass for RMB 1 and enjoy various travel discounts to Hong Kong, while Hong Kong users can receive discounted passes via AlipayHK for travel in mainland China. This cross-regional, cross-wallet convenient payment service significantly enhances the connectivity of the "digital Bay Area" and sets a successful example for other cross-border convenience projects.

Fueled by visa-free policies and other favorable measures, the global "ChinaTravel boom" continues to heat up. To improve payment convenience for foreign visitors, under the guidance of the People's Bank of China and the State Administration of Foreign Exchange, Ant Group has partnered with domestic and international collaborators to launch two inbound mobile payment solutions: "foreign card domestic binding" and "foreign package domestic use." Currently, inbound travelers can bind over six international bank cards (including UnionPay International, Visa, and Mastercard) to Alipay or use Alipay+ cross-border services to directly use AlipayHK (Hong Kong), MPay (Macau), Touch'nGo eWallet (Malaysia), TrueMoney (Thailand), and other 13 overseas payment apps from 10 countries and regions to make QR code payments at over 80 million Alipay-enabled merchants in mainland China. This innovation effectively addresses payment inconveniences for inbound tourists, enabling many small Chinese businesses to easily transform into "multinational shops" without needing equipment upgrades, further improving the experience for both merchants and consumers.

Ant Group Powers the Greater Bay Area

Since April, to promote convenient payment methods, Ant Group has collaborated with partners to establish over 500 "inbound consumer-friendly business districts" in over 70 key cities nationwide, covering popular shopping areas, scenic spots, landmarks, and essential travel hubs like airports, train stations, and subways. Data shows that from January to August 2024, these two cross-border convenient payment solutions served nearly 4.5 million international consumers, a threefold year-on-year increase, driving inbound transaction consumption of nearly RMB 16 billion, a sixfold year-on-year increase. This significant growth demonstrates the positive impact of convenient payment services on inbound tourism consumption.

Meanwhile, payment innovations experienced by Chinese users in their daily lives are further enhancing the consumer experience for inbound travelers via Alipay or overseas wallets. Currently, nearly 200 mini-programs have been launched on multiple overseas payment apps via Alipay+'s "one-end multi-deployment" technology. Services like power bank rentals, massage chair use, claw machines, and luggage storage are particularly popular with foreign visitors. The launch of these mini-programs further enriches the consumption choices of inbound travelers and improves their overall experience.

The improved convenience of cross-border payments is undoubtedly a key factor in building the GBA's "One-Hour Living Circle." Li Yongshi stated that Ant Group will continue to deepen its collaboration with governments and institutions in the three GBA regions, further expanding the coverage of digital services and extending its reach beyond payments to encompass various areas such as government-enterprise-public affairs, and healthcare services. Furthermore, Ant Group will continue to optimize its inbound payment solutions, ensuring that more inbound travelers enjoy the same level of digital services as Chinese residents and experience firsthand the benefits of China's high-quality development and high-level opening-up.

Ant Group's efforts have not only enhanced the GBA's interconnectivity but have also provided global travelers with a more convenient payment experience, significantly contributing to the global "ChinaTravel boom" and providing strong support for China's sustained economic development. With the continued development and application of digital technology, Ant Group will continue to leverage its technological advantages to contribute to the construction of a more convenient, efficient, and interconnected Bay Area living circle. Through continuous innovation and collaboration, Ant Group will continue to make significant contributions to promoting China's interconnection with the world and driving high-quality economic development. This benefits not only GBA residents but also creates a more enriching travel experience for global tourists. Ant Group's experience and model are worth learning from by other regions to jointly promote the vigorous development of the global digital economy. Through its continued efforts in cross-border payments and digital services, Ant Group is actively shaping China's image on the global digital economy stage and contributing to the construction of a more open and inclusive global digital economy ecosystem. Its contribution to facilitating cross-border trade, promoting cultural exchange, and developing tourism deserves recognition and praise. In the future, Ant Group will continue to uphold the principles of innovation, openness, and cooperation to contribute to the building of a better digital world.

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