PayPal is actively engaging with the People’s Bank of China to broaden its service offerings within the country. The company currently focuses on cross-border transactions, helping Chinese merchants sell on platforms like Amazon, eBay, and Shopify by supporting over 100 currencies across 200 regions.
The company entered the Chinese market in 2019 by acquiring a majority stake in GoPay, which was rebranded as Beibao Payment. This entity holds an online payment license, allowing PayPal to operate as a foreign firm in the region. In June 2026, the central bank approved Zhang Hong as the new CEO of this subsidiary.
In May 2026, PayPal integrated with WeChat Pay, enabling US users to make payments at millions of Chinese merchants via QR codes. This move aligns with the APEC 2026 event. Furthermore, the company participated in the September 2026 Greater China Cross-Border E-Commerce Conference in Shenzhen, which hosted approximately 600 attendees.
