Hi fintech friends,

Please find another week of news about the Chinese economy and fintechs below.

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Product & Partnership Launches

• XTransfer has partnered with Ecobank Group to facilitate China - Africa trade payments. 
• Binance Pay has partnered with xMoney to optimize European payments. 
• Wise has enhanced its cross-border payment services in the HK-China Mainland corridor, including increasing the transfer limits and extending recipients to both mainland and non-mainland Chinese UnionPay users.
• Alipay Tap! has expanded to Macau. 
• Hong Kong’s OSL Group has rebranded CoinBest to OSL Japan following its acquisition. 

Financing, Investment & Acquisition

• Singapore’s DBS raised its ownership in Shenzhen Rural Commercial Bank to over 19%. 

Other News & Read

• While Chinese tech giants, including Baidu, Alibaba, Tencent and ByteDance, are racing to adopt DeepSeek, the US is planning to legislate a ban on DeepSeek for government devices. 
• Chinese regulators are looking to launch a formal investigation into Apple’s App Store fee policies, including Apple taking cuts of in-app purchases and blocking third-party payment methods. 
• China fights back against Trump’s tariffs by taking actions against American companies, including Google and Calvin Klein. 
• Trump's de minimis cancellation is bad news for Temu, but worse for Shein.