CCTV News: According to the website of the People's Bank of China, in order to improve the regulatory mechanism of bank card clearing institutions and promote the healthy development of the bank card clearing market, recently, the People's Bank of China and the State Administration for Financial Regulation jointly issued the "Regulations on the Management of Bank Card Clearing Institutions" (People's Bank of China Order [2025] No. 2, hereinafter referred to as the "Measures"), which will come into effect on November 1, 2025. The original "Regulations on the Management of Bank Card Clearing Institutions" (release No. 2 of the People's Bank of China Order [2016]) was abolished at the same time.

The Measures adhere to the overall coordination of opening up and security, based on the actual situation of my country's bank card clearing market, and revise and improve the original "Bank Card Clearing Institution Management Measures" around the administrative licensing, operation management, supervision and management of bank card clearing institutions. The main contents include: First, application and licensing, clarifying the application conditions, application materials and processing procedures for administrative licensing matters such as the preparation, opening of bank card clearing institutions, establishment of branches, approval of directors and senior executive qualifications. The second is change and termination, which stipulates the management requirements for major changes in bank card clearing institutions, as well as administrative licensing matters such as the merger of branches and the termination of some or all of their businesses. The third is operational management, and the requirements for bank card clearing institutions to develop their business from the aspects of clearing business rules, member institutions constraints, risk management framework, outsourcing business management, etc. Fourth, relevant regulations on supervision and management of bank card clearing institutions.

In the next step, the People's Bank of China and the State Administration for Financial Supervision and Administration will jointly do a good job in supervision and management of bank card clearing institutions, promote the high-quality development of the bank card clearing market, and better serve economic development and social livelihood.