Ebay boss confident of getting China payments licence

Ebay will become the first foreign company to secure a financial payments licence in China, chief executive John Donahoe predicted, but the retailer is refraining from competing in the more aggressive and local-dominated retail sales sector.

Donahoe sees “encouraging signs” from the Chinese authorities, but said it remained next-to-impossible to guess when its fast-growing PayPal unit will finally get the green light to operate in the world’s second largest economy, he told the Reuters Global Technology Summit.

via Business feed http://www.scmp.com/business/companies/article/1263442/ebay-boss-confident-getting-china-payments-licence