Dtac sets low growth estimate for this year #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/business/30381192?utm_source=category&utm_medium=internal_referral

Dtac sets low growth estimate for this year

Jan 28. 2020
By THE NATION

Total Access Communication (dtac) has announced its growth estimate of service revenue excluding interconnection charge (IC) for 2020, at a low single-digit with mid single-digit EBITDA (Earnings Before Interest Tax Depreciation and Amortization).

The company has set Bt13 – 15 billion in capital expenditure for this year, according to its statement on Tuesday (January 28).

At the end of 2019, dtac’s subscriber base stood at 20.6 million after the loss of 560,000 users during the year.

Net profit for 2019 amounted to Bt5.9 billion, increasing 69.4 per cent year on year, mainly due to lower regulatory and amortization expenses of assets under concession.

Energy Absolute introduces sustainable business management model #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/business/30381187?utm_source=category&utm_medium=internal_referral

Energy Absolute introduces sustainable business management model

Jan 28. 2020
By The Nation

Energy Absolute Pcl (EA), the first Thai energy innovation firm, is introducing a new business model under the corporate social innovation (CSI) concept to develop the organisation to sustainable integrated management.  It is pioneered with production innovation prototype, PCM (Phase Change Material) from crude palm oil, for which it is seeking a global patent. It aims to have a production capacity of 130 tonnes a day within 2020 and expects to have additional revenue of more than Bt800 million

The company also has transformed the Thai palm industry with “Palm Yang Yuen” (sustainable palm) application, the world’s first online platform with blockchain technology to verify all trading transactions, which make it transparent, fair and can return extra profit sharing to suppliers including palm farmers.

This innovation is raising standards of production, transaction and quality to add value to Thai palm to become an innovative product for export to the global market.

Amorn Sapthaweekul, deputy CEO of EA, said that the company operates a green energy business and energy innovation technology for the future through various businesses comprising solar-wind farm, lithium-ion battery factory, biodiesel from palm oil, electric vehicle (EV) car and ferry produced by Thai and EV charging stations, focusing on business related to the need of energy in the future and energy efficiency for the best benefit.

The company emphasises intensive research and development in technology and invented new innovations to extend and add value to existing businesses, he said. The company has implemented the concept of CSI.

“We want to share our knowledge, innovation and technology we use in our organisation for the benefit of society and relevant communities to grow and be strong for mutual benefit in the long run.

“It is a foundation leading to community development in all dimensions of sustainability eventually, pioneered with PCM or Phase Change Material produced from crude palm oil for the first time in the world. With blockchain innovation, it develops an online platform to record, verify and facilitate additional profit-sharing. This is the company’s CSI prototype with an investment budget of more than Bt1 billion to solve the price and volume fluctuation of palm. It will also add value to palm, boosting the income of farmers and stakeholders in the supply chain. PCM is a substance with a high heat of fusion which, melting and solidifying at a certain temperature, is capable of storing and releasing heat. Heat is absorbed or released when the material changes from solid to liquid and vice versa. PCMs are classified as latent heat storage units and applied in many industries such as building and construction, textile, packaging and logistics.

PCM developed from crude palm oil base or bio-PCM is a new innovation, created for the first time by EA, which has put its PCM under the patent registration process in the global market. The PCM market size is estimated at around US$1 billion, which is expected to triple in the next five years. EA’s PCM production plant is in Rayong with a production capacity of 130 tonnes a day. The first phase of production will start in the second quarter of this year. All the output will be exported to Germany and Japan to be used in construction of buildings and residences.

“This is a significant role in energy conservation as PCM can provide a more stable temperature to reduce energy consumption from air-conditioners or heaters. By the end of the year, revenue from PCM will be around Bt800 million, accounting for 3 per cent of the company’s total revenue. The second phase of PCM production line will be completed by the end of the year and the company aims to expand production capacity to 1,000 tonnes a day within five years.

EA has also transformed the Thai palm industry with the launch of ‘Palm Yang Yuen’ (sustainable palm) application, the world’s first palm platform with blockchain technology, to help farmers and related partners.

They can register by entering personal information, transaction data and quality of raw materials for examination. Additional benefits will be shared if the raw materials meet quality standards to be produced as high-quality PCM. This will be a key driver to promote farmers to produce good-quality raw materials. Consequently, pricing will be led by market mechanism with the practice of transparency which can be examined in every process.

Farmers will get paid quickly through money transfer to their registered account. The application can help prevent trading in smuggled palm and also can be applied widely.

Supalai sets year’s targets, looks to larger share in provinces #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/business/30381183?utm_source=category&utm_medium=internal_referral

Supalai sets year’s targets, looks to larger share in provinces

Jan 28. 2020
Tritecha Tangmatitham

Tritecha Tangmatitham
By THE NATION

Property developer Supalai Plc has set this year’s pre-sales and total revenue targets at Bt26 billion and Bt24 billion respectively, the company’s managing director Tritecha Tangmatitham said on Tuesday (January 28).

The company will launch 30 new projects worth a total of Bt30 billion this year, comprising 25 horizontal development and five condominiums, according to its statement.

The company will explore new markets showing potential demand in the provinces. Also, it will continue launching new mobile applications to boost customer satisfaction.

Bt8 billion is earmarked for land bank purchases this year.

The developer introduced 24 projects with a total value of Bt34.380 billion in 2019, of which 19 are horizontal development.

What changes after Brexit Day on Jan. 31? #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/business/30381220?utm_source=category&utm_medium=internal_referral

What changes after Brexit Day on Jan. 31?

Jan 29. 2020
By The Washington Post · William Booth, Karla Adam 

LONDON – Brexit Day, or “Exit Day” as Prime Minister Boris Johnson would have it, is nearly upon us. On Friday, Britain will officially leave the European Union, after more than four decades with the closest of ties.

What will change? Nothing! At least, at first.

For the rest of 2020, free trade and free movement between the United Kingdom and the EU will continue. Britain will still contribute to the EU budget. And it will still have to abide by EU laws – even though British members of the European Parliament will have packed their bags and lost their say in how those laws are determined.

The biggest jolt to British politics in a generation won’t be felt by most until the end of an 11-month transition period. That’s when everyone will see a profound change to Britain’s relationship with Europe and the world. And there’s still lots that needs sorting between now and then. Here’s what’s on the to-do list.

– – –

It’s all about cod.

British fishing folk, and the folks who love them, have been banging on for years about rapacious Irish, French and Danish fleets over-exploiting rich British waters.

Fisheries account for a tiny percent – a mere minnow – of Britain’s gross domestic product and employ just 24,000 people. But the issue is highly emotional, stirring up nationalist fervor.

Johnson has vowed that Britain will – no matter what else – reclaim its “spectacular maritime wealth.”

Meanwhile, Ireland’s prime minister, Leo Varadkar, warned on the BBC on Monday: “You may have to make concessions in areas like fishing in order to get concessions from us in areas like financial services” in a post-Brexit trade deal.

The Cod War of 2020 is just beginning.

– – –

During the transition period, Britain will remain in the EU’s custom union and single market, but after that, everything is up for grabs.

Brexit Secretary Stephen Barclay has declared that the U.K. wants a “zero tariff, zero quota” trade pact with the EU by the end of the year.

But the new president of the European Commission, Ursula von der Leyen, has warned – in a very friendly, very warm, very public way – that it is almost certainly “impossible” for the two sides to complete a comprehensive agreement within this “very tight” schedule. She suggested that Johnson will have to ask for a delay. Or accept a partial deal – and keep talking.

The prime minister insists he will walk away if his deadlines are blown and head (again) for the dreaded cliff edge of a no-deal departure. Not everyone believes this.

– – –

Once the U.K. is officially out of the EU, it can start to negotiate with countries that don’t already have trade deals with the EU. At the top of that list is the United States.

President Donald Trump, a fan of Brexit, has promised a “massive” deal.” Both sides have said they want to hammer something out quickly. But there could be stumbling blocks, including over drug prices and taxes on big tech companies.

There’s also the debate about “chlorinated chicken.”

Believe it or not, this is a big thing. Bigger than cod.

To have easy, free trade of agricultural goods, Europe is pressing Britain remain aligned with EU rules on food safety and animal welfare. But that puts Britain on a collision course with the United States and its relatively lax regulations on industrial farming. American food processors rinse their poultry in a chlorine bath and shoot up their beef with antibiotics – both no-nos in Europe.

Whether Johnson will bow to the Americans on “chlorinated chicken” and on allowing U.S. pharmaceutical companies access to the U.K. health service market were both points of contention in last month’s general election. Brits will be watching what he does.

– – –

As Britain goes its own way, it will effectively withdraw from hundreds of pacts signed between the EU and the rest of the world.

The Financial Times counted more than 750 treaties “running to hundreds of thousands of pages and spanning 168 non-EU countries. Within them are covered almost every external function of a modern economy, from flying planes to America and trading sows with Iceland to fishing in far-flung seas.”

Johnson’s government has said most of these treaties will be quickly dispatched with a few added lines of text and rubber-stamped by the sides.

In any case, Britain will need lots of ink.

– – –

Britain will begin introducing spiffy new passports – blue, like the good old days – early this year. By mid-2020, all new British passports will be blue.

But they won’t have that “European Union” stamp on the front cover, which allows the 500 million citizens of the bloc to travel effortlessly across the 28-member nations.

Free movement will continue through the transition period. Londoners can still freely move to Lisbon, Berliners can take jobs in Birmingham. But EU citizens living in Britain must apply for residency rights by June 2021 – or they will be in the country illegally.

Going forward, Europeans won’t get automatic preference over people from other countries who want to live and work in the U.K. And Brits won’t as easily be able to live and work in Europe.

Johnson will soon unveil a post-Brexit immigration plan, which is expected to be something akin to Australia’s point-based scheme. Immigration was a huge driver in the 2016 EU referendum, with Brexiteers promising to “take back control” of Britain’s borders. Johnson will want to say he’s achieved that goal.

Stocks shake off virus dread in busy earnings week #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/business/30381212?utm_source=category&utm_medium=internal_referral

Stocks shake off virus dread in busy earnings week

Jan 29. 2020
By Syndication Washington Post, Bloomberg · Rita Nazareth, Vildana Hajric 

U.S. stocks climbed the most since October on speculation that efforts to contain the coronavirus will prevent a major economic fallout.

The S&P 500 Index rebounded from its worst sell-off in four months, with technology shares leading the charge. Some of the companies that suffered the biggest losses during the latest equity rout, such as chipmakers, casino operators and airlines, advanced on Tuesday. Demand for havens cooled, sending Treasuries and gold lower. After the close of regular trading, Starbucks Corp. reported earnings that beat analyst estimates.

Stocks Turnaround Got Few Cheering With Uncertainty Running High

Equities rallied after a slide that wiped about $1.5 trillion off the value of world stocks since Jan. 20. As it’s too early to assess the full impact of the deadly virus, traders digested some positive readings on U.S. consumer confidence and home prices. With earnings continuing to roll in, investors will be looking for signs of how the disease is affecting operations in China.

“We kind of stall a little bit on the Chinese recovery, but we have a lot of other things going in favor of a global recovery anyway,” Stephen Auth, chief investment officer of equities at Federated Investors, told Bloomberg TV. “We still think that’s coming.”

– – –

Some corporate highlights:

– PulteGroup Inc. climbed after reporting better-than-expected quarterly orders.

– Lockheed Martin Corp. rose on sales that beat the highest estimate.

– Acceleron Pharma Inc. surged on mid-stage results for its medicine aimed at treating a type of lung and heart disorder.

– 3M Co. sank after revealing it had received a grand jury subpoena in an environmental probe and saying it would cut 1,500 jobs.

– Harley-Davidson Inc. slid after quarterly profit missed estimates.

– Pfizer Inc. tumbled as a drop in sales overshadowed the company’s projections for a better-than-feared 2020.

– – –

Here are some events to watch out for this week:

– Wednesday brings reports from GE, Boeing and Facebook; Samsung Electronics, International Paper, Unilever and Shell report on Thursday, followed by South Korean chip maker SK Hynix, Chevron, Caterpillar and Exxon Mobil all on Friday.

– Federal Reserve policy makers on Wednesday are expected to open 2020 the same way they closed 2019, by holding rates steady.

– Goldman Sachs will hold its first-ever Investor Day on Wednesday.

– The Bank of England meeting on Thursday is highly anticipated after a series of dovish comments raised speculation policy makers could lower interest rates.

– The U.S. reports fourth-quarter GDP Thursday.

– The U.K. is scheduled to leave the European Union Friday.

– – –

These are the main moves in markets:

Stocks

– The S&P 500 climbed 1% as of 4 p.m. New York time.

– The Stoxx Europe 600 Index rose 0.8%.

– The MSCI Emerging Market Index was little changed.

Currencies

– The Bloomberg Dollar Spot Index decreased 0.1%.

– The euro was unchanged at $1.1019.

– The Japanese yen weakened 0.2% to 109.14 per dollar.

Bonds

– The yield on 10-year Treasuries rose four basis points, to 1.65%.

– Germany’s 10-year yield climbed four basis points, to -0.34%.

– Britain’s 10-year yield jumped four basis points, to 0.552%.

Commodities

– The Bloomberg Commodity Index advanced 0.1%.

– West Texas Intermediate crude rose to $53.48 a barrel.

– Gold decreased 0.5%, to $1,575.80 an ounce.

S. Korea’s consumer sentiment sharply improves for Jan. #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/business/30381206?utm_source=category&utm_medium=internal_referral

S. Korea’s consumer sentiment sharply improves for Jan.

Jan 29. 2020
(Yonhap)

(Yonhap)
By The Korea Herald/ANN

South Korea’s consumer sentiment improved sharply from a month earlier in January, central bank data showed Wednesday, amid outlooks that the country’s economic conditions will improve down the road.

The composite consumer sentiment index came to 104.2 for the month, up from 100.5 for the previous month, according to the data from the Bank of Korea.

The reading marks the highest since June 2018, as well as the largest on-month gain since September 2019, when the index jumped 4.6 points from a month earlier but still fell short of the benchmark 100 at 97.0.

A reading above 100 means optimists outnumber pessimists, while a reading below the benchmark means the opposite.

Local consumers apparently saw future improvements in conditions for their own livelihoods and the country’s economy.

The index measuring their sentiment toward their current economic conditions came to 93 in January, up 1 point from a month earlier.

The index on their livelihood in the future, on the other hand, jumped 3 points to 97, with the index on their outlook for their future income also adding 3 points from a month earlier to 101.

The index for their sentiment toward current economic conditions came to 78, up 4 points from a month earlier. The index for their outlook on economic conditions six months from now came to 87, compared with 82 registered in December, according to the BOK.

The central bank has forecast the local economy to grow 2.3 percent this year, accelerating from last year’s 2 percent expansion in 2019 that marked the slowest on-year growth in a decade. (Yonhap)

Bt100 bn new investment seen in latest tax, loan measures #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/business/30381191?utm_source=category&utm_medium=internal_referral

Bt100 bn new investment seen in latest tax, loan measures

Jan 28. 2020
Lavaron Sangsnit

Lavaron Sangsnit
By THE NATION

The Cabinet on Tuesday (January 28) approved the new tax and loan measures proposed by the Finance Ministry, expected to attract new investment of up to Bt110 billion this year, said Finance Ministry’s spokesman Lavaron Sangsnit.

Leading the measures is the incentive of tax deduction, allowing companies to deduct expense of their investment in machinery at 2.5 times of the actual cost. It covers investments from January 1 to December 31, 2020.

The second is the exemption of tariffs on 146 items of imported machinery. They must be new machinery to be used for the business of the importer, and not imported for sales or be used in household. This will come into effect from the date the ministry announces the regulations until the end of this year.

Another one is the Bt5 billion loans from the Export-Import Bank of Thailand for the purchases of new machinery and improvement of existing items. It offers a fixed annual interest rate of 2 per cent during first two years, and 4 per cent during the following three years.

Maximum lending is set at Bt100 million per borrower, available until December 31,2020.

State banks have also offered loans with low interest rates for investment in certain ventures, as the New-S-Curve businesses in the Eastern Economic Corridor. The S-Curve businesses range from robotics to medical hub.

He added that the ministry has estimated that these new measures will lead to Bt110 billion in new investment this year.

TAT meets private sector to explore ways to assist operators hurt by virus outbreak #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/business/30381175?utm_source=category&utm_medium=internal_referral

TAT meets private sector to explore ways to assist operators hurt by virus outbreak

Jan 28. 2020
By THE NATION

The Tourism Authority of Thailand will hold a meeting with the private sector on Tuesday (January 28) to seek remedial measures for those in the tourism sector affected by the coronavirus outbreak, Minister of Tourism and Sports Pipat Ratchakitprakarn said.

The results of the meeting will be placed before the council of economic ministers on January 31.

He will also report the impact of the virus outbreak to Cabinet today. The ministry has already convened a meeting with tourism business operators on Monday on the situation.

TAT governor Yutthasak Supasorn said that the authority will revise the plan to be presented to the economic ministers council on January 31 by focusing on how to remedy affected private parties, a change from the previous focus on boosting tourism.

It will also focus on how to draw tourists from other countries to offset the loss of Chinese tourists.

He added that the number of Chinese arrivals to Thailand is 800,000 on average per month.

JPMorgan keeps bonuses flat for bankers, traders #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/business/30381153?utm_source=category&utm_medium=internal_referral

JPMorgan keeps bonuses flat for bankers, traders

Jan 28. 2020
Signage is displayed outside a Chase bank branch in Chicago in 2019. MUST CREDIT: Bloomberg photo by Daniel Acker

Signage is displayed outside a Chase bank branch in Chicago in 2019. MUST CREDIT: Bloomberg photo by Daniel Acker
By Syndication Washington Post, Bloomberg News · Michelle F. Davis

JPMorgan Chase & Co. is keeping annual bonuses at its corporate and investment bank roughly flat for 2019 as workers across Wall Street brace for a drop in payouts.

The biggest U.S. bank’s decision, described by people briefed on the matter, came after the unit notched its best year since at least 2011. Most of the workers were told about their payouts last week, said one of the people.

Compensation expense rose 4% to $10.6 billion for the corporate and investment bank in 2019 as headcount climbed 3%, the bank said earlier this month. The unit accounts for about a third of the firm’s revenue. Total compensation costs as reported by U.S. banks don’t always directly show changes to the bonus pool.

Consultant Johnson Associates predicted in November that year-end incentives would be down 5% across Wall Street, with investment bankers probably taking in more, and equities traders faring the worst. In Europe, recruiters had forecast that shrinking revenues would translate into double-digit percentage declines for many trading and investment banking teams.

Top executives on JPMorgan’s operating committee received small boosts to compensation – of 1.6% to 2.4% – for their work in 2019, Bloomberg reported last week. Chief Executive Officer Jamie Dimon’s compensation package increased 1.6% to $31.5 million – smaller than the bump he got in 2018.

JPMorgan notched the highest profit in U.S. banking history for the second year in a row with $36.4 billion, spurred in part by a 56% surge in stock and bond trading in the fourth quarter. Trading revenue for the full year rose 6.7%, while revenue from advising on M&A and bond and stock offerings rose 1.4%.

Still, JPMorgan has been tightening its belt more than in previous years amid a growing number of potential pitfalls for the economy. It’s been building up its employee presence in lower-cost locations and was considering relocating several thousand New York-based employees out of the area, Bloomberg reported in October.

Thailand among world’s top 10 for mobile payments by Chinese tourists #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/business/30381149?utm_source=category&utm_medium=internal_referral

Thailand among world’s top 10 for mobile payments by Chinese tourists

Jan 28. 2020
By The Nation

Thailand ranked among the global top 10 for mobile payments by Chinese tourists, fuelled by the country’s “maturity” in mobile payment solutions, a joint report by Nielsen and Alipay said.

The study reported the latest trends in Chinese outbound tourism and the consumption habits of these travellers for the third consecutive year.

Thailand and Singapore were among the top 10 overseas destinations visited by Chinese tourists in 2019 and are among the top 10 countries for overseas travel plans in 2020.

Surveying 4,837 Chinese travellers and 547 overseas merchants, the report found that the Southeast Asia region maintained its leadership in mobile payments by Chinese travellers, with Singapore and Thailand positioned at number 1 and 6 respectively in global ranking. Other nations on the list of “Top 10 countries where Chinese tourists love to use mobile payments” include South Korea, Japan, Australia, France, New Zealand, Canada, the UK and the US.

In Singapore, an early adopter of Chinese mobile payment solutions, almost all merchants (97 per cent) indicated steady improvement compared to the previous year in terms of mobile payment usage and the amount of mobile spending by Chinese tourists.

In Thailand, Singapore, Malaysia, Japan and South Korea, the usage rate of mobile payments among Chinese tourists was high, reaching 70 per cent in both 2018 and 2019, the report stated.

The total amount spent by Chinese tourists increased by 14 per cent in Singapore and Thailand and 23 per cent in Japan and South Korea between 2018 and 2019.

These results are encouraging more overseas merchants to deepen the use of Chinese mobile payment platforms as they go digital. Nearly 7 out of 10 (66 per cent) surveyed merchants in Singapore, South Korea and the UK hope to carry out more digital store operations through Chinese mobile payment platforms and hope to further their promotional and marketing activities leveraging Chinese mobile payment platforms.

In 2019, destinations located a four-hour flight away such as Thailand, Japan, South Korea and Singapore remained the most popular choices for Chinese tourists.

In addition, the US, Australia, UK and Canada were also among the top 10 countries, which indicated that Chinese tourists were fairly keen on travelling to English-speaking countries.

The top three factors affecting Chinese tourists’ overseas shopping habits are payment methods accepted by merchants (37 per cent), product variety and quality (36 per cent), and product price (36 per cent).

In 2019, compared to last year, Chinese tourists born in the 1990s spent nearly 12 per cent more on a single overseas trip, while those born in the 1980s spent 15 per cent more. An underlying reason for the increased travel expenditure may be the desire for more in-depth experience of local cultures. Around 70 per cent of millennials would proactively search for information on places to eat, stay and visit even after arriving at their travel destinations. More than 50 per cent of those born in the ’90s chose to stay at local homestays and B&Bs rather than hotels. Some 34 per cent of the post-1990 generation attended concerts or stage performances at their travel destinations, while 26 per cent experienced local outdoor sporting activities.

“The Chinese mobile payment engagement level [the proportion of mobile payment transactions by Chinese tourists overseas] and the depth of usage [total spending via mobile payments] continued to increase, indicating a more in-depth development of Chinese mobile payment solutions globally,” said Nielsen China president Justin Sargent.

“The trend of more overseas merchants going beyond payment to adopt more digitalised services is a promising one, as it helps brick-and-mortar businesses become better integrated with the digital economy while bringing more personalised experiences for consumers around the world,” commented Angel Zhao, Ant Financial’s International Business Group president. “Alipay, as part of the Alibaba ecosystem, aims to support the digital transformation of businesses and we will continue to innovate and help merchants around the world benefit from the rise in global tourism.”

Some of the key findings:

* Among the countries surveyed, the usage of Chinese mobile payments in Singapore, South Korea and Japan was highest, with Singapore in the leadership position.

* Some 77% of Chinese tourists in Singapore used mobile payments for their transactions.

* Total spending by Chinese tourists via mobile payments increased significantly in countries where Chinese mobile payment adoption is relatively mature.

* More overseas merchants intend to deepen the use of Chinese mobile payment platforms as they go digital.

Mobile payment insights

* The proportion of Chinese tourists using mobile payments when travelling abroad in 2019 remained stable compared to 2018.

* In 2019, 3.4 out of every 10 payments made by each Chinese tourist overseas were mobile payments, a slight increase from the previous year (3.2 payments).

* The per capita total amount of mobile payments made by outbound Chinese tourists increased by 18% compared to the previous year.