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PBOC will issue regulations for bankcard clearing firms as soon as possible

2015-11-10 17:01

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Chinese central bank the People's Bank of China (PBOC) will release final regulations for companies offering bankcard clearing services in China as soon as possible, Fan Yifei, vice governor of PBOC, said at a forum on Tuesday, quoted by the Xinhua-run

Currently, the PBOC was still discussing with China Banking Regulatory Commission on how to improve draft rules, the official said.

The PBOC in July published a draft version of regulations for bankcard clearing firms after China's State Council, the cabinet, in April announced plans to allow foreign companies to run bankcard clearing business in China.

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