PayPal appoints Zhang Hong as CEO of China region

PayPal announced today the appointment of Zhang Hong as PayPal China's Chief Executive Officer, Chairman of PayPal China's licensed institution Baifubao Payment Co., Ltd, and General Manager. Zhang will be responsible for overseeing PayPal's overall strategic planning, business innovation and expansion, and daily operational management in China, leading the team to promote PayPal's long-term development in the Chinese market. This personnel appointment has been officially approved by the People's Bank of China.