Paypal in Chongqing - Global E-Commerce Hub

As a financial center of West China, Chongqing plays an important role in China's finance development. More and more financial entities will establish their e-commerce hub in Chongqing, such as PayPal.

E-commerce Hub of PayPal in Chongqing

PayPal business decides to establish an international e-commerce hub in Chongqing, China, as the company aims to boost exports from the nation by helping merchants conduct faster cross-border trade.

PayPal agreed with Chongqing's municipal government to establish the center to offer foreign exchange settlement, telesales, training, verification and other services.

PayPal & Chongqing Get Mutual Benefits

Helping local companies in Chongqing connect with global customers will also boost PayPal's transaction volume from China more than 80 percent to $4 billion in 2010.

It is the first time in the world for PayPal where they are doing such a wide-ranging, comprehensive partnership with a government. In this case, Chinese merchants will build up their capabilities to conduct cross-border trade by the help from Paypal business. As the result, Chongqing will become the biggest financial and ecomomy center of West China.

The Chongqing government also work with agencies including the State Administration of Foreign Exchange to get regulatory approval for a settlement service that is expected to begin next year.

Chongqing is developing with a dramatically high speed. It will become one of the largest international metropolis in the world.