Banking

China’s Alipay mobile payment platform and TAT sign letter of intent

Alipay is the world’s largest mobile and online payment platform operated by Ant Financial Services Group, with over 900 million members.

Published

2 years ago

May 27, 2019

Thai News ข่าวไทย

Bangkok, 27 May 2019 – The Tourism Authority of Thailand (TAT) and Alipay (Hangzhou) Information Technology Co., Ltd. today signed a Letter of Intent (LoI) to form a long-term strategic partnership that offers Chinese tourists more product and service options while visiting the Kingdom.

TAT Governor Mr. Yuthasak Supasorn said “Thailand is the most popular destination for Chinese traveller in 2018 according to the report by the China Tourism Academy and Ctrip.

Last year, Thailand welcomed over 10.5 million visitors from China (out of 38 million total arrivals), making it the number one source market for the country. Hence, the TAT is constantly looking for ways to strengthen tourism products and services that cater to Chinese visitors.”

“The LoI signifies the commitment between both parties to forge a long-lasting strategic partnership. This cooperation in the field of tourism will facilitate Chinese tourists to access more options and enjoy better services while raising awareness among the Chinese about the ease of travelling to and around Thailand,”
TAT Governor Mr. Yuthasak Supasorn

Alipay is the world’s largest mobile and online payment platform operated by Ant Financial Services Group, with over 900 million members.

It is currently in talks with relevant Thai government agencies, including the TAT, to enhance Chinese tourists’ overall experience in Thailand. Alipay will provide more efficient and convenient payment method via its platform and help Thai local merchants improve their services and better supporting the needs of the Chinese travellers.

Chinese tourists spent on average 55,579 Baht per person per trip in 2018, up 5.1% year-on-year, generating 586,471 million Baht revenue (up 12.6%).

Banking

Thailand’s Public debt to GDP ratio within framework says Finance Minister

Currently, Thailand’s ratio of public debt to gross domestic product (GDP) stands at 49.34 percent, which is below the Fiscal Sustainability Framework set at 60 percent.

Published

1 month ago

November 27, 2020

National News Bureau of Thailand

BANGKOK (NNT) – The Thai economy is gradually recovering, with monthly economic indicators, such as the consumer confidence index and domestic spending, showing positive signs.

(more…)

Banking

Raising inequality posing credit risks for sovereign in APAC countries

Governments with weaker social protection systems and tighter fiscal positions will face tougher challenges in tackling income inequality

Published

1 month ago

November 24, 2020

Pr News

Moody’s Investors Service says in a new report that the impact of the coronavirus pandemic will exacerbate income inequality in APAC, posing credit risk for sovereigns across the region and in particular for those with weaker fiscal capacity and social protection systems.

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Banking

Bank of Thailand steps in to curb recent baht strength

Bank of Thailand accelerates measures to advance the development of the new Thai FX Ecosystem and to limit excessive currency volatilities

Published

1 month ago

November 22, 2020

Olivier Languepin

In a press release published on the 20th of November, the central bank’s Monetary Policy Committee (MPC) has expressed concerns over the rapid appreciation of the baht as this affects the fragile economic recovery.

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