A woman wearing protective face mask at the Lujiazui financial district in Pudong, Shanghai, on May 22, 2020. Photo: Reuters A woman wearing protective face mask at the Lujiazui financial district in Pudong, Shanghai, on May 22, 2020. Photo: Reuters
A woman wearing protective face mask at the Lujiazui financial district in Pudong, Shanghai, on May 22, 2020. Photo: Reuters

American Express wins bank card clearing licence for China’s US$27 trillion market

  • American Express becomes the first foreign payments network to be allowed to process local currency transactions in China
  • AmEx is required to start the clearing service within six months, according to a statement

Topic |   Banking & Finance
A woman wearing protective face mask at the Lujiazui financial district in Pudong, Shanghai, on May 22, 2020. Photo: Reuters A woman wearing protective face mask at the Lujiazui financial district in Pudong, Shanghai, on May 22, 2020. Photo: Reuters
A woman wearing protective face mask at the Lujiazui financial district in Pudong, Shanghai, on May 22, 2020. Photo: Reuters
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