SUBSCRIBERS
No tough rules for foreign bank card firms: PBOC
Published Tue, Nov 10, 2015 · 09:50 PM
Beijing
CHINA will not impose tough licensing restrictions on overseas bank card providers seeking to enter the country's US$7 trillion card payment market, a senior central bank official said on Tuesday.
Industry sources told Reuters in October that they were concerned the Chinese government would limit the number of licences issued to foreign card providers and force them to operate through joint ventures with local partners.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Rescue pup to meme star: the real-life ‘Dogecoin’ dog
Five new charges for money laundering accused Zhang Ruijin before his plead guilty mention
Bank of Japan keeps rates steady, projects inflation staying near 2% in coming years
Weak yen pressures Bank of Japan’s interest rate decision
Basel Committee adds climate risks to banking supervision standards
Crypto firm sues SEC to fend off oversight of Ethereum