Category: WeChat

When the date comes to November, people, especially the youngsters, around the country have much restlessness in their hearts.

 

You may wonder that there are no important traditional festivals this month, it still has nearly two months before the Spring Festival. So, how to explain their restlessness?

 

© Image | Google

 

That because a big online shopping spree is on its way, it is called Double 11. As its name showed, the shopping spree is on November 11. It is a shopping carnival originally invented by Taobao Shopping Mall on Nov 11, 2009, the largest online shopping platform in China.

 

 

1

From small to big

 

At the very beginning, it was only a promotion strategy only used by Taobao in 2009, but with the penetrating power of the internet, it eventually has become the largest shopping festival for online buyers in China. 

 

On that day, tens of thousands of online shops on Taobao will release their sales promotion strategies, and buyers can buy their wanted goods with a big discounted price.

 

© Image | Google

 

Every year, online shops on Taobao begin their preparations for the carnival even one month earlier, and shoppers, of course, will not let this “gap time” slip away, they also need to take some fast moves to win the upcoming “shopping war”. 

 

For example, they need use this period of time to put the wanted goods into their shopping carts in advance or pay some earnest money timely to a certain of goods, otherwise they will fail to buy them, because, at the moment of entering Nov 11, even 2~3 seconds delay will cause your wanted goods snap-shopped by others.

 

 

2

“Hand-cutting” festival

 

People in China jokingly call the Double 11 as “Hand-cutting” festival, because every year on that date people spend too much money on buying things on Taobao, some spend two thirds their monthly salaries on shopping or even borrow money to shop things they like. 

 

© Image | Google

All these because they think the Double 11 offers them a rare chance to buy things cheaply or buy luxury goods which they can’t afford to buy in other time. “Hand-cutting” shows these shopper’s dilemma, on one part, they are deeply attracted by the cheaply sold goods on Nov 11, on the other, they feel guilty because they spend too much money on buying things online, even things they actually don’t need.

 

 

3

Shopping Crazy

 

Every year, the Double 11 is much like drugs which make people high and following examples will show you how.

 

© Image | Baidu

 

Wenzhou police received a help call that someone was about to jump off a building. When they arrived, they found a woman sitting on the guardrail on the top of the eighth floor, crying loudly. The woman surnamed Shang is 35 years old and from Henan province. She and her husband are both working and living beyond their means. 

With a monthly salary of nearly 4,000 yuan, half of her money is spent on online Taobao. When the Double 11 comes, she found that she has less than 100 yuan. So she asked her company to pay her salary in advance but got refused, then she came up with the idea of jumping off a building to threaten the company.

 

© Image | Baidu

 

in 2013, Construction workers in a construction area in Sanshui found a man sleeping with a scarecrow in a culvert. After learning that the man’s wife on the date Double 11 spent two months of his wages on shopping, he got angry and went to the hill culvert, said that “holding a scarecrow is warmer than holding a wife”. 

The farmer, a cook, earns 4,500 yuan a month. His wife spent nearly 10,000 yuan in an hour on the date Double 11. As a result, the two sides quarreled, so he bought beer in anger and decided to sleep outside, on the roadside he picked up a scarecrow to kepp warm.

 

© Image | Baidu

 

In 2017, Mr. Liu in Fuzhou city posted a photo on his Sina Weibo and it showed that his wife was scrolling a computer mouse with her foot. Mr. Liu said on the eve of Double 11, his wife was ready to pay all the selected goods in her shopping cart, but Liu thought she bought too many, total value was up to 20000RMB(about 2880 USD). 

So he tied his wife on a chair to stop her from buying and paying. But what surprised him was that his wife didn’t give up buying, although she couldn’t move her hands she tried to use her foot to operate the computer to buy!

 

 

4

Phenomenon data

 

Double 11 shopping carnival is a phenomenal event in China, so it is true for the data created by the shopping spree. Since its inception, the sales volume created by Double 11 has kept increasing. Following are the total sales data since 2009.

 

2009~2017 total sales

 

In 2017, the at the moment the Double 11 lowered the curtain, the total sales volume reached 168.3 billion RMB, 90% of it was made via wireless devices by shoppers, total all-day payments reached 1.48 billion, the all-day package delivery orders was 0.812 billion and shopper from 252 countries participated in that shopping festival.

 

© Image | Baidu

 

As the date approaches Nov 11 in 2018, there is a inside news says that the 2018 Double 11 carnival will generate more than 1.87 billion packages. Obviously, that will bring a busy November to the whole delivery industry in China.

 

The Double 11 shopping carnival is only two days ahead, you guys will join the nationwide shopping war? Please tell us by leaving your comments at comment area.

 

There are a variety of electronic payment methods, and the techniques of fraudulent use are endless. Recently there is a new SCAM, some scammers use the Apps to defraud the user’s fingerprint to authorize the payment of hundreds of RMB.

© Image | 苹果日报

Some people said that the App did not indicate it would be used as an authorization payment before scanning the fingerprint. It was an obvious robbery behavior, and it was considered that the Apps Apple Approved were not effective. 

Case 1

Ms. Zheng, an iPhone user, recently saw an advertisement on Facebook about an app that can measure heartbeat and blood pressure called Heart Rate Measurement and downloaded it from the App Store. 

© Image | App Store

She said that the app indicated that she would press the Home button on her thumb, but after she pressed it, the heartbeat and blood pressure numbers on the screen were still 0, and a “Your purchase has been successful” notice popped up. She immediately received the credit card payment notification message sent by the bank shows that it has been deducted by 688 yuan.

Ms. Zheng stressed that there is no payment reminder after entering the app, which is an obvious robbery. She immediately called to complain.

“They are duty-bound and should supervise all the apps already on the App store. If the app has not been tested, it shouldn’t be allowed to take to the market.” 

The Apple staff pointed out that they would follow up the incident and promise to refund in the next two weeks.

Case 2

Another app called “The History of Your Family” has a similar situation. The user Miss Chen recently saw an advertisement on Instagram to introduce the app, user’s family history can be seen in this app. In order to “know distant relatives”, she downloaded it. 

© Image | App Store

After enabling, entering the name, date of birth and location as directed, then press Next, the app signals her to press the fingerprint. She didn’t expect it to be a fraud and just pressed the finger, the screen soon popped up a “successful payment” notice. 

“I have already given money before I can cancel it. After that, I also received a credit card payment reminder from the bank.”

© Image | 苹果日报

Ms. Chen said that by entering the App to request to scan the fingerprint, there is no indication that the fingerprint is used for authorizing payment, even the amount is not displayed. She felt very angry that it’s a complete scam so she chose to report this app! 

© Image | 苹果日报

To back to the App Store and to view other users’ comments, the users all said that the app was a scam. Soon after, the app was removed from the app store.

If that happens, what to do?

The honorary president of the Hong Kong Information Technology Chamber of Commerce believes that the two apps above are pure scam. He said that the current fingerprint identification (Touch ID) has been widely used in smartphones and used as one of the payments for online shopping. If users were asked to scan fingerprints when they use the app, they should see if the developer of the app is credible or not.

© Image | GOOGLE

He explains that many apps now have “In-app purchase”, which can be paid in the app through user authorization, “equivalent to purchase in the App Store”. He believes that the fraudulent Apps are very few cases because all the apps on the App Store should have passed the Apple security test.

There is no definite answer to the above two cases currently, and Apple only advises the victims to contact their technical support immediately.

Tan Chao, a 34-year-old doctoral student in the history department of Yanbian University, has been questioned for sending couriers for 8 years. 

© Image | 腾讯新闻

Some teachers accused him of “highly educated people robbing rice bowl of the low-education people, and his brain is sick!”

The man, who did not listen to any persuasion, slammed back: This is to divide people through education, not to work hard! This is through the academic record to divide people into various grades and ranks, rather than efforts!

He also worked as…  

In fact, not only a courier but Tan Chao has also worked as

• Real estate agent,
• Security,
• Window cleaner,
• Junkman,
• And etc.

The original intention of working as a casual worker is for postgraduate study, and the family also persuaded Tan Chao to give up the postgraduate study to find a job, but he said, “If I listen to their advice, do I have to go this unusual way?”

© Image | 梨视频

800,000 Parcels in 8 Years

The reason why Tan Chao chose to be a courier, on the one hand, he fell into this job when he was a security guard; on the other hand, he was still in class, and it was impossible to find a full-time job. Just then, the degree of freedom of this job is relatively high.

© Image | 腾讯新闻

Gradually, Tan Chao invented his own way called “Express number method” to send parcels and the money he earned every month can support his family, so he has kept doing this job. During the eight years as a courier, he has sent 80 hundred thousand parcels, an average of 274 couriers can be delivered in a day.

© Image | 头条号

In the past 8 years, some teachers have accused Tan Chao: “highly educated people robbing rice bowl of the low-education people, and his brain is sick.”

Tan Chao does not agree with this statement: “This is to divide people through education, not to work hard! This is through the academic record to divide people into various grades and ranks, rather than efforts!”

© Image | 腾讯新闻

What I hate is his contemptuous look, his deep-rooted expression of class differentiation. No matter who is, no matter he is doing academics, sending a courier or performing crosstalk, as long as he can promote productivity development, he is a good doctor.”

© Image | 头条号

After studying for a doctoral degree, Tan Chao plans to go to college to apply for a job. “I think I should teach and educate people to make a small achievement in promoting the development of productivity. My academic theories can be spread to some extent.”

In recent years due to the rapid development of economy and trade, many entrepreneurs and businessmen have opened offshore accounts or set up overseas companies. 

© Image | Google

A lot of mainland businessmen flock to Hong Kong market, eager to gain a foothold expand their overseas markets. After all, the global market is so large and eye-attracting, they all want to have a share of it.

 

In Hong Kong, the number of bank accounts is close to saturation, and government regulation has increasingly strengthened, making it more and more difficult for Banks to open accounts

 

© Image | Google

 

At present, the problem of difficult account-opening also has a great impact on enterprises and individuals, especially those enterprises engaged in foreign exchange or foreign trade, which is extremely inconvenient. 

 

Without HK accounts, it will become difficult for enterprises and individuals to receive foreign currency and that may cause customer-loss in the process.

 

So, why it is getting harder to open HK accounts? Here are the reasons.

 

 

 1 

Strengthened regulations

 

International efforts to crack down on money laundering, fundraising, and tax evasion have led to increased regulation, shrinking Hong Kong bank accounts and tightening bank controls, which are also taking longer than previously complicated account opening procedures.

 

© Image | Google

 

The Hong Kong and mainland China officially joined the CRS exchange. The Hong Kong monetary authority required Banks to cooperate with the account regulation to avoid using offshore tax evasion and tax evasion, money laundering, and other phenomena, and the Banks would be severely fined by the CBRC if they failed to implement the supervision responsibility.

 

 

 2 

A rocket increase in account-opening

 

Opening a Hong Kong account and registering a Hong Kong company is the first step to open the overseas market. The more developed the world economy is, the more people need it. As the demand increases, the bank of Hong Kong will naturally tighten the opening policy to control the situation.

 

© Image | Google

 

Before 2015, the procedure of opening an account in Hong Kong was relatively simple, you only need to submit relevant materials then you can open an account. Fifteen years later, in response to anti-money laundering, the bank of Hong Kong raised the threshold, and many enterprises came to apply for Hong Kong accounts and returned empty-handed.

 

 

 3 

Low profit for banks

 

In previous years, the company did not have much demand for opening public accounts, so there emerged many “zombie households” which did not bring many benefits to the bank, while the cost of bank management for one account was high.

 

© Image | Google

 

Many small and medium-sized enterprises register Hong Kong companies or bank accounts to take advantage of the financial system of Hong Kong to receive and pay, so the bank for its own interests, when opening an account, will do a lot of checks on the customer’s business background and so on, strict screening of the customer.

 

 

 4 

Incomplete materials & improper company names

 

There are a lot of clients who fail to submit full required materials to the bank, and if like, the failure rate of opening an account is relatively low, but if you have millions of direct transfers, maybe the bank will give the account on the spot. The reality is so harsh like that.

 

In addition, the company name is not reasonable. If some big words are used, such as international, group, China, etc., relevant data shall be reviewed. For example, if a company use the word international, the company shall have office addresses in more than three countries, and if the company fail to provide three valid addresses the bank will refuse to open an account for it.

 

© Image | Google

 

There may also be other barriers, such as the fact that shareholders come from sensitive countries, such as sanctioned, war-torn countries will be rejected by Banks.

 

 

All the above-mentioned situations may become obstacles for you, which makes it difficult for Hong Kong Banks to open an account. Therefore, it is important to choose a professional and efficient agent company at this time. High-quality business service agencies will greatly improve your success rate of opening an account and use professional skills and conditions to save you unnecessary trouble. 

 

 

 

HACOS is a reliable agency which can offer you professional services in opening HK accounts, if you need HK bank account-opening services, please feel free to contact us!