China caps overseas cash withdrawals amid capital flight fears
China UnionPay -- which provides almost all the country's bank cards -- will limit annual withdrawals to 100,000 yuan (USD 16,000) each year, China National Radio (CNR) said.
Sep 29, 2015, 17:54 PM ISTChina opens bank card clearing sector to foreign firms
China has announced plans that will allow giants such as Visa and MasterCard to set up credit card clearing services in the country, breaking the monopoly in a multi-trillion-dollar market foreign firms have been trying to tap for decades.
Apr 23, 2015, 10:33 AM IST