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China’s 3rd-party payment market increases 91pc

China’s third-party payment market size grew 91 percent to CNY758 billion (USD120b) in the first quarter this year, according to an industry report.

The transaction volume added 2.7 percent quarter on quarter, lower than the 31 percent growth rate in the fourth quarter, because of lower-than-usual online spending during the New Year’s Day holiday and Spring Festival, Beijing-based research firm Analysys International said in a report on Monday.

(Source: Shanghai Daily )