In the wake of the China-U.S. leaders' summit in San Francisco nearly 10 days ago, significant strides have been made to strengthen bilateral relations. One of the notable developments is Mastercard's recent approval by the Chinese Central Bank and the National Financial Regulatory Administration to conduct bank card clearing operations in China. This move allows Mastercard to issue yuan-denominated bank cards under its own brand, enhancing financial connectivity between the two nations.
Mastercard holders in China can now use their cards directly in over 100 million businesses worldwide, fostering a more stable and competitive bank card clearing market in China. Ann Cairns, the executive vice chair at Mastercard, emphasized the company's commitment to innovation, global connectivity, and partnerships with local players in the Chinese market.
Beyond the financial sector, Chinese airlines have resumed several direct flights between Chinese and U.S. cities, including Air China's flight CA817 from Beijing to Washington D.C. Additionally, Broadcom has received the necessary approvals from Chinese antitrust regulators, signaling broader economic cooperation.
These positive changes reflect China's dedication to high-standard opening up and its willingness to engage constructively with the world, particularly the United States. Ben Harburg from the National Committee on U.S.-China Relations highlighted China's responsiveness to constructive criticism in improving its economic and infrastructural landscape. Stephen Orlins, president of the same committee, underscored the importance of rebuilding trust and demonstrating the mutual benefits of the China-U.S. relationship.
As both nations take concrete steps towards enhancing their partnership, the future looks promising for continued cooperation and stability in various sectors.
Reference(s):
cgtn.com
