South Korea's tech giant Samsung launched its mobile payment service Samsung Pay in China.  It's in partnership with China UnionPay, the only inter-bank network in China.

Samsung smartphone users can select credit and debit cards from nine Chinese banks, while six more will support services in the future.

Samsung is in fierce competition in China's mobile payment market, with arch-rival Apple having entered nearly six weeks ago. China's domestic Ali-pay and We-chat payment have very large user bases. In 2015, there were 416 million online payment users in China.