Western Union seeks partners

GUANGZHOU - Money-transfer company Western Union will firm up more bank alliances and increase the number of outlets in China to 40,000 by next year, a senior company official said on Friday.

At present, the company has 25,000 outlets in China and alliances with eight Chinese lenders, said Drina Yue, managing director and senior vice-president of Western Union Asia-Pacific.

Bulk of the company's business in the nation is from overseas remittances, with China being the second-largest recipient of such remittances. But there have also been advances in outbound remittances from Chinese students, travelers and entrepreneurs exploring the overseas markets, said Yue.