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Economy

How A Xi Jinping Dinner In San Francisco May Have Sealed Mastercard’s Arrival In China

Photo of a hand holding a phone displaying an Union Pay logo, with a Mastercard VISA logo in the background of the photo.
Mastercard has just been granted a bank card clearing license in China. Rafael Henrique/ZUMA

The credit giant becomes only the second player after American Express to be allowed to set up a bank card-clearing RMB operation in mainland China.

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