Xiaomi

It’s the fourth time this year.

The Hong Kong Monetary Authority has so far issued 8 virtual banking licenses. Ant Financial, Tencent, Xiaomi, and Ping An each have one.

But global industry leaders are locked out of the lucrative Chinese market.

The company has its eye on a Latin American expansion this year.

Turns out, Lei Jun’s promises are as good as gold.

But will he pay out?

Xiaomi is taking strides to cement its hold on the world’s second-largest smartphone market — by going the traditional retail outlet route. By the end of 2019, the company expects 50% of its sal

And more than 92% of China’s smartphones are made in Dongguan.