media quoted words of eBay CEO John Donahoe saying that the leading e-commerce service provider is likely to become the first foreign company to win payment license in China, although it will not follow local peers to kick off fierce competition in the retailing market.
The CEO pointed out when receiving an interview that he has sensed positive indication from Chinese government, although it is still unknown when affiliated PayPal will get market admittance into China, the world second biggest economic entity.
John Donahoe believed that PayPal will get payment license in China within three months at the soonest or five years later at the latest.
PayPal may form a JV with a local partner in China, although it is still unknown whether the JV will be 49% held or controlled by the foreign party.
