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China's Tencent and several other investors committed an additional investment of $120 million to the digital financial services company Voyager Innovations.
Data from the app stores operated by Huawei, Xiaomi, OPPO, Vivo and other major Chinese smartphone makers show that the cumulative downloads of a recently released digital yuan mobile application have exceeded 20 million.
A lot of you may wonder, why China excels so much in payments given that it is still an emerging country.