Trump Signs Executive Order Banning Chinese Apps Like Alipay... "Threat to National Security"

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] On the 5th (local time), the Wall Street Journal (WSJ) reported that U.S. President Donald Trump signed an executive order banning transactions with eight Chinese applications, including Alipay, the online payment platform led by Ma Yun.

In addition to Alipay, WeChat Pay, owned by another Chinese information technology (IT) company Tencent Holdings, was also included.

The Trump administration's move is based on concerns that Chinese electronic payment platforms, including Alipay, pose a threat to U.S. national security. There are worries that the Chinese Communist Party could gain access to sensitive information such as personal data and financial information of hundreds of millions of people.

However, since these companies' revenue shares outside China are extremely small, interpretations suggest that the impact is more symbolic pressure rather than practical effect.

Alipay has over one billion users, but its usage rate outside China is known to be less than 5%.

This executive order will take effect 45 days after issuance.

This content was produced with the assistance of AI translation services.