Get 20% off StudyMode
Page 1 of 4

Fucking China Regualtion

Continues for 3 more pages »
Read full document

Fucking China Regualtion

  • By
  • October 2008
  • 955 Words
  • 2 Views
Page 1 of 4
"Basically, we will no longer subsidize other parts of China profit from the market because MasterCard is also investing in China for 20 years in the future in China will generate profits for investment in China." On July 18 in an interview with this paper when , MasterCard International, executive vice president of the right Feng Wei said.

   And the corresponding yes, the central bank has repeatedly hinted that the payment and settlement system will support the Bank as the only institutions, and will likely support its 62BIN Bank (Bank Identifier) up to national standards.

   It is the policy in the face of the level of implied, MasterCard will have to adjust to China's strategic reliance on dual-currency credit card expansion, acquiring banks and development in the field of development, and to pay for the settlement of the most profitable areas, MasterCard May be subject to Chinese government restrictions in the future will not be open for the time being deterred.

   Back pay settlement

   "Gross Settlement in the area of policy level has not been too clear, so this year's plan to pay for the time being not consider clearing business." Feng Wei said that right.

   According to MasterCard and Bank of the two sources confirmed that the central bank has through various channels suggested that the central bank will support China UnionPay as the only payment clearing agencies, payment and settlement in the area of opening up to foreign investment there is no timetable.

   At present, foreign banks can issue renminbi cards, and the RMB card clearing transfer of the territory in the future will be borne by the Bank, cross-regional transfer of the Gross Settlement Bank, a channel only. Therefore, HSBC, Standard Chartered, East Asia, Citigroup four local corporate bank and the Bank have carried out comprehensive communication and cooperation with the signing of the agreement, the two foreign investment has been going on...