ANNOUNCEMENT 09 Apr 2015In April 2015, the government of China announced changed rules for foreign investors.
NUMBER OF INTERVENTIONS
On 9 April 2015, the State Council issued the Notice No. 22 of 2015, the Decision on the Implementation of Market Access Administration on Bank Card Clearing Institutions.
Starting from 1 June 2015, the international bank card clearing service providers such as Visa or Mastercard may enter the Chinese market by following the current regulations on foreign investment. This decision may end the long term monopoly from the local bank card clearing company "UnionPay".