For the first time, South Korea has been knocked from the top spot in the rankings of mainland Chinese WeChat spending over the long Labor Day weekend as Hong Kong takes its place and Thailand sees the fastest growth, according to a report by WeChat on cross-border spending.

The sheer ease of overseas transactions using WeChat, avoiding the need to change money and worry about exchange rates, is one of the main reasons for the continued growth of spending by Chinese tourists abroad. The WeChat users pay in RMB and the merchant receives the payment in local currency. WeChat payments can now be accepted in 12 countries and territories and in 11 currencies.

Over the Labor Day weekend of April 29 to May 1, a “little long holiday” in China, the highest cross-border spending was in Hong Kong, followed by South Korea, Thailand, Japan, Australia, Taiwan, New Zealand and Singapore.

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Frank Hersey

Frank Hersey is a Beijing-based tech reporter who's been coming to China since 2001. He tries to go beyond the headlines to explain the context and impact of developments in China's tech sector. Get in...