The Chinese government has announced a new rule requiring all retailers in the country to include a China-only checkout window in their online checkout.
The new rule comes on top of several others, such as the introduction of the Alibaba brand and a slew of new Chinese-only credit cards.
We’ve seen retailers push for the new payment option, and we’ve seen the Chinese government push back, with the government announcing that it’s not “in the spirit of [China’s] reform” and that “only domestic enterprises can make purchases.”
What does this mean for China?
This rule will be important for a number of reasons.
First and foremost, it means that many Chinese consumers don’t want to pay a fee for online shopping at a time when they’re shopping online at their local Walmart or Costco.
If China is going to make changes to its payment system, they need to get it right.
The Chinese are used to being forced to pay fees to get their goods to the stores, so it would be a huge loss for the country if they were forced to choose between paying their taxes or getting their goods on time.
As the U.S. has pointed out, it’s the American retailers who have historically been the most dependent on China’s economy.
What are the biggest risks for China in the new system?
China has been trying to change its payment systems since the early 2000s, and the introduction in the early 2020s of Alibaba’s payment system was a step in the right direction.
However, the system has been subject to problems, and there’s a lot of concern about whether it will be able to handle all of the new fees, which have been added to the system with the help of Alibaba.
While China may not be able for a long time to eliminate all of these fees, China’s problems could start to be solved soon.
How to buy in China: What you need to know to buy online in China source Amazon /r