Apr 22, 2015 06:11 PM

China to Open Bank Card Clearing to Foreign Competition

(Beijing) – China plans to break up its monopolized sector of bank card-clearing with competition from both Chinese and foreign companies, according to a recent announcement by the State Council, the country's cabinet.

The announcement, dated April 9 and published by the State Council on its website on April 22, set out principle requirements for companies to handle bank card clearing businesses in China and provide relevant services.

You've accessed an article available only to subscribers
Share this article
Open WeChat and scan the QR code