Does PayPal work in China?

Could you please clarify for me if PayPal is operational and functional within the borders of China? I'm curious to know if individuals and businesses in China are able to utilize PayPal for their financial transactions, including sending and receiving payments, as well as managing their funds. Additionally, are there any specific regulations or restrictions in place that might affect the use of PayPal in China? I'd appreciate any insights or information you can provide on this matter.