That says that PayPal bought a 100% stake of a Chinese payment processor and are the first foreign owned payment processor to operate in China....meaning that all other payment processors operating in China are owned by the Chinese....and PayPal is Is owned. The title of the article is poorly worded.
PayPal is owned by EBay, a publicly traded company.
And it's 100% owned by the Chinese.
https://web.archive.org/web/20210112002843/https://www.globaltimes.cn/page/202101/1212506.shtml
That says that PayPal bought a 100% stake of a Chinese payment processor and are the first foreign owned payment processor to operate in China....meaning that all other payment processors operating in China are owned by the Chinese....and PayPal is Is owned. The title of the article is poorly worded.
You have to ask what agreement Paypal made with the ChiComs to buy one of their "companies". Being given access to Chinese markets comes at a cost.