We have heard a lot of stories about Paypal. Good or bad, paypal cannot be ignored. Paypal has been in the Chinese market for about a year and a half. Initially they gave new registratrants 10rmb cash in order to build its customer base. This promotion has sinced finished but they claim now that they still give this free credit on a “random” basis.

Paypal China is cut off from the outside world. Since China regulates its currency, the Renmenbi or the Yuan, it is of no surprise that you cannot transfer funds from Paypal China to another Paypal account outside China. And it really doesn’t look like you will be able to do this any time soon.

Paypal is quite easy to set up in China. It doesn’t use a credit card as such but uses bank cards/EFTPOS cards. ie you load money into paypal via your bank card. Transactions are relatively easy and quick but as with the English system, don’t expect to find a number for customer service. They may have updated the site now with a phone number though.