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Visa, Master welcome China's open cards move

US firms stand to gain access to a growing market worth more than US$1t a year

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MasterCard said that it will continue to monitor closely and look forward to the day when it can compete for domestic business in China.

Beijing

VISA and MasterCard welcome China's plans to open up its market for clearing domestic bank card transactions, as they stand to gain access to a growing market worth more than US$1 trillion a year.

While China lags behind countries such as the United States in spending on

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