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A comment on To Cover China, There’s No Substitute for WeChat. Parent comment

Re:To Cover China, There’s No Substitute for WeChat by seanmcdirmid on Friday January 18, 2019 @05:44PM (#18943831)
False. China has a cash propensity of 35%, the USA is at 11%. Those numbers are for 2018. China still falls behind all developed economies in the Asian region for non-cash transactions.

https://s3.amazonaws.com/fetch_production/assets/524432/The%...

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Re:To Cover China, There’s No Substitute for WeChat by resouer on Friday January 18, 2019 @07:07PM (#18944312)
False.

World Payments Report 2018 https://worldpaymentsreport.com/wp-content/uploads/sites/5/2...

China ranks the third of non-cash transactions organization after Eurozone and USA, and with its rate of growing, China will become the #1 in 2021, aka 3 years later.

Actually, in 2016, WeChat alone has already reached 500M transition/day[1].

As for cash propensity, it has nothing to do with non-cash transactions. Chinese ppl just love keeping lots of money in their bank accounts.

[1] http://www.sohu.com/a/129980516_324659

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Re:To Cover China, There’s No Substitute for WeChat by yorwba on Friday January 18, 2019 @07:58PM (#18944558)
Your source says that China ranks third after USA and Eurozone by total number of non-cash transactions. It does not imply anything about the share of non-cash among all transactions. Considering that China has more inhabitants than either of the other regions, the share of non-cash transactions should be quite low, or they wouldn't rank third.
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