China's insular internet economy shows signs of opening up to foreigners.
Cheng Xin/Getty Images
For decades, China's internet economy has been a gated-off party. Now, some of its biggest companies are cracking the door open to outsiders.While China has long since invited foreign businesses to set up shop within its borders, its internet has been closed off. Dominated by a handful of local players — such as Tencent's messaging app WeChat, ByteDance's TikTok-equivalent Douyin, the X-like Weibo, and the lifestyle content app Xiaohongshu — the country's internet has been difficult for non-Chinese users to access.Many of these platforms have historically been Mandarin-first and presented registration, verification, and other hurdles for foreign users. Because China's digital payment ecosystem is integrated into these social media apps, payment in the country is a challenge for foreigners, too.But recent developments have pointed to a trend of China finally opening its doors and letting foreigners take small steps into its internet economy.Paying as a tourist in China is becoming a lot easierChina has for years been largely cash-free in its major cities, and is known for its seamless payment ecosystem, which includes major players like Alipay and Weixin Pay.Now, one big player is helping tourists make payments more easily while traveling in the country.On August 11, PayPal announced that US PayPal users can use the service to make in-store QR payments at Weixin Pay merchants across China, without needing to download additional apps or set up a Chinese bank account.Weixin, also known as WeChat, is owned by the Chinese tech conglomerate Tencent. Tencent's cross-border payment platform, TenPay, provides the underlying payment services used by Weixin Pay."Through our collaboration, international visitors will be able to use their home wallets to make QR code payments at tens of millions of Weixin Pay merchants in the Chinese mainland, offering them a familiar and convenient way to pay," TenPay CEO Wenhui Yang said in the PayPal press release.









