On September 19, the Shanghai branch of the People's Bank of China disclosed administrative licensing decision information, approving the name change of Alipay (China) Network Technology Co., Ltd. to Alipay Payment Technology Co., Ltd. Reporters also learned that Alipay (Hangzhou) Information Technology Co., Ltd., the operating entity of the Alipay App, has also been renamed Alipay (Hangzhou) Digital Service Technology Co., Ltd. Alipay stated that this change is part of Ant Group's corporate governance upgrade based on its "Alipay Dual Flywheel" strategy. As the sole operating entity of Ant Group's payment business, Alipay Payment Technology Co., Ltd. will continue to provide payment services centered around payment technology innovations such as "touch and go" and "AI payment." As the operating entity of the Alipay App, Alipay (Hangzhou) Digital Service Information Technology Co., Ltd. will be committed to increasing product and technology research and development and openness in the AI era, contributing to the digital and intelligent upgrade of China's service industry.