technology news Beijing time on June 18th morning news, eBay CEO and John · Donaho (John Donahoe) on Monday is expected that eBay will be the first to get the financial payment license in China overseas companies, but the company will not participate in the more fierce, by local companies dominate the retail sales industry competition.
Donaho in the Monday meeting of the Reuters global technology summit said that he Chinese from where the authorities saw "encouraging signs", but now the eBay’s rapidly growing PayPal department will be permitted to operate business in China on the market make a guess almost impossible. I believe, PayPal will become the first in the Chinese market to get a license to pay overseas companies, which could occur within three months, it may occur in the next five years."
Donaho also said it is unclear whether PayPal must set up a joint venture with Chinese local enterprises, and holds a minority stake in the company of 49%, operating business in the China market to the target; in addition, the eBay is in a joint venture with the number of shares is still unknown.
from the traditional point of view, overseas Internet Co in the Chinese market and Alibaba group and Baidu (Nasdaq:BIDU) and other local companies have a competitive disadvantage compared. China has joined the World Trade Organization (WTO) ten years ago, officially opened its own market to international companies. Currently, China’s financial and retail industries are still dominated by local companies such as Bank of China and Alibaba group. Donaho said: "the evidence shows that non Chinese companies are at a competitive disadvantage, but we have chosen not fierce competition", but with the passage of time, will see the local economy and the global economy Chinese try to contact".
eBay is currently in the China market turnover was US $6 billion. On the platform of eBay, most Chinese companies are selling products to other countries in the world, because Chinese companies are testing the global market. Donaho expects the Chinese market to grow faster than the rest of the world.
Donaho said that eBay is working closely with overseas governments to combat online fraud and criminal activities, especially money laundering activities. About 1/4 of transactions in PayPal processing are cross-border transactions. Donaho said that although the eBay itself has not been under the support of the government’s attacks, but the network attacks in the past 12 to 24 months time has increased significantly.
talked about the recent debate about what the U.S. government should be in the scope of monitoring activities, Donaho said, eBay has never been asked to participate in a wide range of information gathering plan. However, he said, eBay will be based on the case to follow the legitimate data query request. The debate is in the news that the U.S. National Security Agency (NSA) is moving through the so-called