In China, 90 percent of internet users connect online through a mobile device, and those people on average spend more than a third of their internet time in WeChat. It’s fundamentally a messaging app, but it also serves many of the functions of PayPal, Yelp, Facebook, Uber, Amazon, Expedia, Slack, Spotify, Tinder, and more. People use WeChat to pay rent, locate parking, invest, make a doctor’s appointment, find a one-night stand, donate to charity. The police in Shenzhen pay rewards through WeChat to people who rat out traffic violators—through WeChat.
Construction sector drives jump in insolvencies
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New data from the Australian Securities & Investments Commission (ASIC)
shows a big jump in external administrations in March, with 7,742 firms
going und...
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