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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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 credit, habits are changing fast and the Chinese are increasingly swiping plastic to satisfy their growing appetite for consumer goods.
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