Can I Withdraw RMB from Paypal Account in Chinese Bank? Yes, It Will be Possible

Paypal China has re-positioned itself in Chinese online payment market. It is now focusing on cross-border e-commerce, avoiding the direct competition with Alipay in domestic market. It’s a smart strategy, but there is a hurdle which is quite annoying, for cross-border e-commerce owner, they still can not draw RMB directly from their paypal account in any Chinese local bank.

But soon, it will be possible. Talked to an insider which explained me this:

Surely once the service is launched, it will be a huge boost for Paypal China as well as Chongqing government to attract more merchants. The insider also said Paypal would spend more effort on promoting its x.com open payment platform in 2011 too. Paypal seems already back on track in China.

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