This Week in Fintech - China, 6/11

China tightened outbound investment rules following its decision to block Meta's acquisition of AI startup Manus.

The Pentagon expanded its 1260H list of Chinese military-linked companies, adding Alibaba and Baidu alongside other major tech firms, in a move that tightens U.S. scrutiny but does not impose immediate sanctions.

Alipay launched cross-border QR payments in Kyrgyzstan to expand its regional payment network.

Ant Bank and Alibaba supported Macau Pass, a Macau fintech platform to strengthen local digital financial services.

XTransfer partnered with Societe Generale to build cross-border payment and settlement solutions for businesses.

XTransfer partnered with BBVA to deepen cross-border payment infrastructure across Latin America and Europe.

RedotPay launched RedotPay Connect, letting merchants accept stablecoins and settle instantly in fiat.

ZA Bank partnered with Industrial Bank to launch Hong Kong’s first digital bank Cross-boundary Wealth Management Southbound services.

TenPay Global now allows foreign passport holders to remit funds directly to China.

Airwallex acquired financial data platform Leapfin to expand its automated accounting capabilities.