Key facts
- China's major internet platforms are beginning to open up to foreign users and businesses.
- PayPal users in the US can now make in-store QR payments via Weixin Pay merchants across China.
- Bilibili has launched an international app and is actively recruiting creators and staff in Japan, the US, and Europe.
- Chinese tech companies are increasingly focusing on international expansion due to slowing domestic demand.
- Chinese AI models like Moonshot AI's Kimi K3 are offering competitive, lower-cost alternatives to Western counterparts.
China's historically insular internet economy is showing signs of opening up to foreign participation. This shift is evidenced by major Chinese tech companies facilitating easier access for international users and integrating with global payment systems.
PayPal announced that its US users can now make in-store QR code payments at tens of millions of merchants across China through Weixin Pay, Tencent's payment platform. This integration aims to simplify the payment process for tourists, who previously faced significant challenges in a largely cashless society without local bank accounts or payment apps.
Beyond payments, platforms like Bilibili, popular among younger demographics for anime, comics, and gaming content, are actively expanding internationally. Bilibili has launched an international app and is recruiting creators and staff in markets like Japan, the US, and Europe, following similar global expansion efforts by platforms like TikTok and RedNote (Xiaohongshu).
Experts note that this opening is partly driven by slowing domestic consumption in China, prompting companies to seek growth opportunities abroad. This trend aligns with the broader global competition in technology sectors such as AI, robotics, and electric vehicles, where Chinese companies like Moonshot AI are presenting competitive offerings, such as their Kimi K3 open-weight AI model, at lower costs than Western alternatives.