China Opens Up The Domestic Bank Card Clearing Market to Foreign Competition: A Significant Opportunity Beckons for Foreign Investors
12 May 2015
On 9 April 2015, the State Council issued its Decision on the Implementation of Market Access Administration in relation to Bank Card Clearing Institutions (the "Decision"). The Decision will become effective on 1 June 2015. Critically, the Decision is expected to end the current de facto monopoly on bank card clearing services in China and to pave the way for the opening up of this market segment to other entrants, including foreign investors.