Tag: Dominating

  • Vietnam’s Durian Exports Skyrocket, Dominating Chinas Fruit Imports with Room for Growth

    Vietnam’s Durian Exports Skyrocket, Dominating Chinas Fruit Imports with Room for Growth

    In the first half of 2026, China increased its durian imports from Vietnam by 43%, reaching a sum of US$988 million. With a promising harvest, this robust growth is anticipated to persist. The General Department of Customs reported that durian represented over 48% of Vietnam’s fruit and vegetable exports to China. While exports of coconuts saw close to a double increase, exports of dragon fruit, bananas, and mangoes experienced a decrease.

    Future Prospects for Durian Exports

    Dang Phuc Nguyen, the Secretary General of the Vietnam Fruit and Vegetable Association, expects the surge of durian export growth to continue into the second half of the year. As the Central Highlands, the largest durian-growing region in the country, recently commenced its peak harvest season, Nguyen predicts that if the current pace of exports persists, durian export growth in 2026 could surpass the 20% rate seen in the previous year.

    The scope of durian exports has begun to broaden beyond China. As of July, fresh Vietnamese durian was granted import approval by India, introducing a new market comprised of a population exceeding 1.4 billion. However, Nguyen cautioned that a sizable population does not necessarily guarantee immediate high sales. As durian is still relatively unknown to the majority of Indian consumers, time would be required for adjustments in dietary preferences and the establishment of distribution systems.

    Nguyen suggested that initial demand for durian could be seen in major cities, imported-fruit stores, luxury retail chains, hotels, restaurants, and e-commerce platforms. He also indicated that exporters from Vietnam might find it useful to test the market using frozen, dried, or processed products. This strategy could alleviate the pressure to sell fresh fruit during the peak harvest season.

    In the first half of the year, China’s total imports of Vietnamese fruits and vegetables were valued at $2.04 billion, marking an increase of nearly 25%.

    Questions & Answers

    What was the growth rate of China’s durian imports from Vietnam in the first half of 2026?
    China’s durian imports from Vietnam increased by 43% in the first half of 2026.

    What is the potential for Vietnamese durian in the Indian market?
    While India has approved the import of Vietnamese durian, widespread success in the market will depend on the adaptation of eating habits and development of distribution systems. Initial demand is expected in major cities, premium retail outlets, hotels, restaurants, and e-commerce platforms.

    How might Vietnamese exporters approach the new Indian market?
    Vietnamese exporters could test the market by introducing frozen, dried, or processed durian products. This move could also relieve the pressure to sell fresh durian during the peak harvest season.

  • OCBC Leads the Charge in QR Payments Integration, Dominating China’s Scan-and-Pay Market

    OCBC Leads the Charge in QR Payments Integration, Dominating China’s Scan-and-Pay Market

    OCBC Bank is set to be the first Singaporean financial institution to allow customers to scan and pay every major merchant QR code in Mainland China via its Singapore mobile banking application. This innovation is a significant leap in the integration of cross-border payments.

    Positioning for the Future

    This strategic move places OCBC in a strong position to tap into the increasing travel and expenditure flows into China, where QR code transactions are commonplace. The additional functionality is a result of an extended collaboration with UnionPay International, formalized in Shanghai on November 28, 2025.

    Streamlining Payments for Travellers

    The OCBC application will take advantage of NETS infrastructure to facilitate payments to vendors that accept Weixin Pay, also known as WeChat Pay, augmenting its current support for Alipay+ and UnionPay QR. The Weixin Pay feature will be rolled out in the first quarter of 2026.

    The upgrade offers OCBC Singapore clients a seamless experience within one of the globe’s most cashless economies. Users can effortlessly scan any Weixin Pay, Alipay+, or UnionPay merchant QR code and have the payment directly deducted from their OCBC accounts.

    Surge in Strategic Opportunity

    The update spares customers the inconvenience of downloading separate applications, refilling digital wallets, or standing in line for currency exchange. Instead, they can enjoy competitive real-time exchange rates and no additional charges.

    The Scan & Pay feature of OCBC is experiencing substantial growth. Payment volumes have increased by eleven percent year-on-year, with active users up by 67 percent. Mainland China has become the top destination for these transactions, which are frequently used for dining, sightseeing, and retail shopping, including duty-free products and jewelry.

    Travel Demand on the Rise

    The bank’s expanded QR acceptance aligns with the escalating travel demand. The number of arrivals from Singapore to Mainland China more than doubled in 2024, rising from 260,000 in 2023 to a projected 535,000, according to Oxford Economics.

    Questions & Answers

    What does this move mean for OCBC?
    By enabling customers to scan and pay every major merchant QR code in Mainland China, OCBC positions itself to capture increasing travel and spending flows into China, where QR code transactions dominate.

    How does this change benefit OCBC clients?
    The enhancement removes obstacles from one of the world’s most cashless ecosystems. Users can simply scan any Weixin Pay, Alipay+ or UnionPay merchant QR code and have payments debited directly from their OCBC accounts.

    How does OCBC’s Scan & Pay feature perform?
    OCBC’s Scan & Pay feature has seen robust growth, with payment volumes up eleven percent year-on-year and active users up 67 percent.