The company did not disclose the figures for profit.
The company estimates its total revenue will hit 500 million yuan this year, with users exceeding 250,000.
The company acknowledged the rapid development of mobile payment services led by Chinese third-party payment companies such as Alipay, the digital wallet run by e-commerce giant Alibaba Group, and WeChat Wallet owned by Tencent Holdings, but Keung doesn't seem worried.
The comments were transcribed?live by ReCode’s Jason Del Rey.
The cloud investment reflects the strengths Alibaba and other dominant digital players are experiencing, with the shifting online of many activities during the pandemic, said Duncan Clark, founder of business advisory firm BDA China.
The cloud service will not only provide public and private clouds, but also offer intelligent risk control, intelligent investment advice and intelligent payment, among other services.
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The comments came as China conducts trial operations of 5G systems in several cities and aims to fully commercialize the superfast technology by 2020.
The collection of farmland occupation taxes has played an important role in promoting the rational use of land resources, and strengthening the protection of arable land, said Minister of Finance Liu Kun while explaining the draft to lawmakers at the start of the NPC Standing Committee session.
The commission also planned to give the four executives bearing direct responsibility warnings and lifetime prohibitions from entering into the securities market, which means they shall not undertake any securities practice or hold the posts of director, supervisor or senior manager of a listed company for life. Punishments for other managers in charge were specified in the statement as well.
The commentary said whenever the joint military exercises were held, peace and security on the Korean Peninsula were seriously threatened and the hard-won atmosphere for reconciliation and cooperation between the north and the south were spoiled in a moment.