https://www.live-feeds.com/feed/china-gives-green-light-to-visa-for-local-clearing-entity-after-9-year-waitContinuously updated, source-cited coverage. https://www.live-feeds.com/feed/china-gives-green-light-to-visa-for-local-clearing-entity-after-9-year-waithttps://www.live-feeds.com/feed/china-gives-green-light-to-visa-for-local-clearing-entity-after-9-year-wait#u125047Fri, 16 Oct 2026 07:08:08 +0000China has granted approval for Visa to prepare a domestic bank card clearing institution following a nine-year wait. The People's Bank of China announced the decision, which allows Visa's Chinese subsidiary to set up a local clearing organisation. This paves the way for the issuance of Visa-branded renminbi bank cards inside the country. The subsidiary must finish its preparations within a one-year window before it can apply for a formal business license to begin commercial operations. The regulatory green light marks a significant step forward for foreign financial services access i