UnionPay China and Ant Group have reached a cooperation agreement to jointly build an ecosystem.

UnionPay and Ant Group have reached a cooperation agreement to build an ecological partnership. The two parties will upgrade cooperation in multiple areas, focusing on innovative payment solutions, promoting consumption, and improving people's livelihood, to continuously enhance the convenience of payment services. This cooperation aims to further implement the national strategy of "improving people's livelihoods and promoting consumption" and support the high-quality development of the real economy. In response to the government's efforts to stimulate consumption, both UnionPay and Ant Group will implement special actions to boost consumption. Additionally, they will collaborate in areas such as trade-in programs and prize-winning invoice services, allowing more consumers to enjoy subsidies and participate in invoice lottery activities in a more diverse way. This will effectively implement consumer subsidies and enhance consumer engagement and satisfaction.