BEIJING, Oct. 13 (Xinhua) -- China's central bank announced on Tuesday that it has approved an application from a subsidiary of U.S. payment giant Visa to set up a bank card clearing institution in China, a step forward in the country's financial opening up. Visa Information Technology (Beijing) Co»»»

The People's Bank of China, China's central bank, has approved an application from a subsidiary of Visa to set up a bank card clearing institution in China. Visa Information Technology (Beijing) Co Ltd is required to complete its preparations and apply to commence operations within a year, PBOC sai»»»