As Chinese consumers continue to spend more money online, one of China's biggest tech companies wants to profit from their spending on overseas websites.
Baidu, which runs China's biggest search engine, has partnered with PayPal, to allow its users to shop on overseas sites with funds from their Baidu Wallet.
With the tie-up, this opens Baidu users to some 17 million PayPal-accepting merchants across the world.
And for those PayPal merchants, they get Baidu's 100 million users.
PayPal also opens itself to a market hungry for overseas spending. China's e-commerce spending at home is already huge — online retail sales reached $752 billion in 2016 alone. Read more...
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