Core Viewpoint - The People's Bank of China approved the name change of Alipay (China) Network Technology Co., Ltd. to Alipay Payment Technology Co., Ltd., reflecting the company's governance upgrade under the "dual flywheel" strategy, while maintaining the Alipay brand and app name [1][2][5]. Group 1: Company Name Changes - Alipay's main operating entity has been renamed from Alipay (China) Network Technology Co., Ltd. to Alipay Payment Technology Co., Ltd. [2] - Alipay (Hangzhou) Information Technology Co., Ltd. will also change its name to Alipay (Hangzhou) Digital Service Technology Co., Ltd. [2][5]. Group 2: Strategic Direction - The name changes align with Ant Group's strategic direction, which includes "AI First," "Alipay Dual Flywheel," and accelerating globalization [5]. - The establishment of two major business groups, Digital Payment and Alipay, aims to enhance product innovation and user growth [5]. Group 3: Leadership Changes - Zhu Lin has been appointed as the Vice General Manager (Technical Head) of Alipay, previously serving as the Chief Technology Officer of Ant Group's Digital Payment business group [5][6]. Group 4: Technological Innovations - Alipay has introduced the "Tap to Pay" feature, allowing users to complete payments by tapping their phones, which has seen user adoption surpassing 200 million [6]. - The company has launched the "AI Pay" service, the first of its kind in China, aimed at providing payment solutions for AI entities [6][7]. Group 5: Market Growth Predictions - Predictions indicate that new interactive payment methods may exceed 50% in the next five years, with a tenfold increase in diverse smart device payments [7]. - The AI payment market is expected to reach a trillion-level scale, driven by the growth of the AI industry and smart terminal proliferation [7]. Group 6: Recent Developments - Alipay has introduced new AI features, including a voice search function and AI assistant tools for various services, enhancing the app's intelligence [7][8]. - The AQ health application, launched by Ant Group, has served over 140 million users, with a significant portion from lower-tier cities [8].