#Switzerland #Chinese Economy #UnionPay #Davos #Davos 2026

UnionPay at Davos 2026: Highlighting China's Economic Resilience

Recently, UnionPay participated in the prestigious World Economic Forum (WEF) Annual Meeting in Davos, Switzerland. On January 21, Chairman Dong Junfeng contributed to a panel discussing whether the Chinese economy has fully emerged. During this session, he engaged with fellow panelists to explore significant issues surrounding China’s economic development, innovative growth strategies, and its vital role in the global economy. The discussions emphasized China's resilience and potential for growth, reinforcing UnionPay’s commitment to facilitating domestic economic activities while fostering international cooperation.

Economic Growth and Resilience

Despite global economic uncertainties, the resilience of China's economy has remained evident. In 2025, China’s GDP increased by 5%, surpassing CNY 140 trillion. Dong attributed this stability to several factors: effective governmental planning, enhanced market vitality, an upgrade in consumption patterns, and a noticeable rise in domestic demand—often cited as crucial elements for sustainable economic growth.

China is actively promoting a new development paradigm in which domestic and international consumer activities will mutually reinforce each other. The 15th Five-Year Plan particularly focuses on boosting consumption and increasing the availability of high-quality goods and services, thus creating a substantial foundation for ongoing economic growth.

On the demand side, China is witnessing rapid transformations in consumption behaviors, emerging business models, and innovative usage trends. For instance, UnionPay has reported a steady uptick in digital payments within the consumer market, with new business models such as live-streaming e-commerce and the sharing economy gaining traction. In addition, the surge in spending for winter sports and tourism exceeded 50%, while cross-border payments saw a rise of over 60%. This reflects a pivot from traditional consumer goods to a more diversified, quality-centric approach.

These shifts have transformed consumer spending dynamics, suggesting a broader focus on services and goods alike. As such, UnionPay is adapting by enhancing its payment solutions, broadening its service offerings, and investing in technology to support a more robust consumer market.

AI and the Future of Payment Systems

UnionPay is also making significant strides in adopting artificial intelligence (AI) to boost productivity and drive economic growth. Dong noted that recent advancements in AI—such as breakthroughs in large language models and intelligent agents—are redefining efficiency and operational capabilities across industries, particularly in payment systems.

By employing AI, UnionPay has optimized decision-making processes and improved service delivery. Their intelligent risk control system serves as a secure framework for the future of digital payments, protecting users while facilitating seamless transactions. Additionally, the launch of the 'Nihao China' app for international visitors delivers personalized payment solutions through intelligent interactions, ensuring that users find their needs met efficiently and effectively.

UnionPay is at the forefront of utilizing AI in payments, rolling out initiatives like the MCP Agentic Payment Service. This innovative service integrates traditional payment methods with new, agent-driven experiences, allowing users to complete transactions seamlessly through interaction-driven processes. By synthesizing AI capabilities with payment systems, UnionPay aims to redefine consumer experiences throughout their financial journeys.

Global Cooperation through Shared Opportunities

Amidst geopolitical tensions and fluctuating trade policies, UnionPay remains steadfast in its commitment to facilitating global economic interaction. Dong emphasized that China’s ongoing growth is not only beneficial to its domestic landscape but also advantageous to international markets seeking stronger partnerships.

UnionPay serves as a vital conduit for cross-border business, with nearly 300 million cards issued in 83 countries, and its acceptance network extending to 183 regions worldwide. This established infrastructure plays a crucial role in nurturing trade and investment flows while promoting people-to-people exchanges around the globe.

The collaboration between UnionPay and international card schemes enhances the payment landscape within China, creating opportunities for smoother cross-border transactions. The integration of domestic and international resources through innovative partnership models accelerates the development of a new Four-Party Model for payments—one that emphasizes mutual benefit and strategic alliances.

As China continues to showcase its market potential, UnionPay positions itself to support and engage with global partners actively. The company envisions a future where enhanced integration and technological advancement drive superior service quality and economic collaboration, contributing significantly to international economic ties and shared prosperity.