Liu Chuanzhi didn't come to Silicon Valley to tout Zhou Shi, in addition to letting Lenovo join the MIPS open source architecture alliance, he also had to discuss more with Zhou Shi about the development of time. Especially to communicate with Pichai.

Zhou Shi's three mobile payment companies are Time Finance Huaxia, Time Finance International and Yahoo Pay. Among them, the domestic part is mainly WeChat, Time Wallet, Time Finance International is divided into WeChat/Whatapp payment system and Square payment system, Yahoo Pay is different, this has nothing to do with Time.

The division of spheres of influence is not simple or complicated, according to the distribution of influence of WeChat, Whatapp and Square, Yahoo Pay is in addition to the Chinese market, according to the market size and potential of the order of entry. However, no matter how it is divided, mobile payment can have greater development in places where the financial system is not standardized, such as China and India, and maybe Mexico and South American countries, as for Africa, wait for their network coverage to rise.

"So whether we are investing or setting up a direct subsidiary, we have to enter India, which is a very important market for us. "Zhou Shi

"But India's economic environment is completely different from that of developed countries in Europe and the United States, and they sometimes even want to overturn the law and convict them retroactively!"

"What's going on?" Zhou Shi was puzzled

"Here's the thing...... Wei He explained that in 2007, Vodafone bought from Li Ka-shing a stake in Hutchison Whampoa's (now part of Hutchison Telecom) mobile communications business in India. Since they have adopted the offshore company model, that is, Hutchison Telecommunications has set up a company in the Cayman Islands, and this offshore company directly holds the equity of the Indian subsidiary, so when selling the Indian subsidiary, it only needs to sell the offshore subsidiary they established to avoid taxes, and the purpose of this is undoubtedly to avoid taxes. However, this method of operation is indeed internationally accepted and is legal unless there is another law in the host country that explains it. Unfortunately, the transaction was legal in India at the time. But India's tax authorities don't think so.

As early as January this year, the Supreme Court of India ruled in a dispute with the Revenue Authority of India in relation to the above-mentioned acquisition involving Vodafone, holding that the acquisition was not subject to tax in India. However, in May, India's parliament passed retroactive legislation in an attempt to overturn the verdict and order Harmony International to pay taxes in India. Moreover, note that India has also stated that all offshore trade involving Indian assets that has occurred since 1962 is subject to capital gains tax under the Indian Gains Act. In other words, the retrospective period is more than 50 years! But don't the laws of the world all say that the laws enacted now do not punish the illegal and criminal acts that occurred before the past, but adopt the previous laws (the principle of non-retroactivity)? India is so capricious that sometimes it really has to obey, and it doesn't know what it means to lose a small thing or a big one. This strange behavior of ignoring the rules of the international game is also the main reason why India has not developed for so many years. The reputation of the Huaxia government in this regard is undoubtedly much better, even if it is because it does not understand the rules of the game, it is to admit defeat and compensate. If India participates in this game and does not abide by the rules of the game, you say that he will surpass Huaxia in such a country, is it possible, who will believe it?

"This ......" Zhou Shi was dumbfounded, fortunately India is not as strong as the US imperialists, otherwise there will be an economic sanction suddenly, how will everyone play in the future?

"India wants to develop unless there are leaders who can forcefully learn from China's reform and opening up ......," Pichai said

"Reform and opening up?India, Guangdong, there seems to be a place in India called the Guangdong of India?" Zhou Shi

"Canton in India?" Pichai wondered

"Mr. Zhou should be talking about Gujarat, right?" Wei He

"Yes, that's right. Zhou Shi also remembered that Nut Mobile had plans to build a factory in India, and Wang Huainan went to Silicon Valley to attend the MIPS open source conference, and in a few days he would make a detailed work report to Zhou Shi, and Gujarat was briefly mentioned in the meeting.

"This is the most economically dynamic place in India. "Pichai

"It has been since October 2001, when Moody's was the Chief Minister of the Indian state of Gujarat, that the region has achieved its current economic success. "Wei He

"This Moody's is still in Gujarat?" Zhou Shi

"Yes, India's electoral law says ......," Wei explained, adding that Zhou Shi has been gathering information since he made India his next development priority.

"Why doesn't this Moody's become India's prime minister?"

"It's not impossible!" said Pichai

"Is it really possible?" Zhou Shi

"He is widely praised in India, and many people hope that under his leadership, India will surpass China. "Pichai

"Oh, then should we get in touch with it in advance?" Zhou Shi

"I think so!"

"Well, I think it's okay, if the economic and legal conditions in India are improved, it will be of great benefit to our layout in India. "Wei He

"Then try it!" Zhou Shi

"Actually, it would have been better if Simon had been able to go to India himself!" Mr. Pichai said

"Why?" Zhou Shi

"Time and Yahoo have both set up subsidiaries in India, and since it will be the next focus, it is necessary to establish contacts with local forces, and a wealthy man like Simon is very representative, and if you invest in India, it will be a big benchmark. Not only can it help India, but it can also bring us more convenience!"

"Find a time to go next year!" Zhou Shi thought for a while and said

"Time Finance can play a big role in India, where our mobile payment and cashless social experiments can be the biggest stage in the world. "Pichai, in 2011, the number of unbanked people in India was as high as 557 million, and almost half of Indians did not have bank accounts, which is really an incredible phenomenon for such a large country to be so backward in financial construction in modern society!

The chaos in India's financial industry is not limited to this, according to the survey statistics of India's Central Bureau of Investigation this year, India has become the largest owner of black money in overseas tax havens, estimated to exceed 500 billion US dollars, and a large amount of black money has been transferred to overseas tax havens. A few years ago, according to India's intelligence agencies and the Reserve Bank of India, there were $51 billion in counterfeit rupees in circulation in India, while the total amount of genuine Indian rupee was $140 billion. Because the anti-counterfeiting technology is not up to standard, in the growth of India's currency in recent years, the issuance of counterfeit banknotes has doubled the issuance of genuine banknotes. This kind of problem is not only a technical problem, even a few years later, the Moody's government issued a demonetization order, and it is difficult to upgrade the anti-counterfeiting technology. Only in a cashless society, electronic payment is a reliable and effective way. Therefore, if mobile payment is only a supplement to payment methods in China, then mobile payment is a social change for India.