The Singapore Exchange and Bank of China have signed a memorandum of understanding to cooperate in growing China's financial markets.
Bank of China
The People's Bank of China has published a report saying that it has issued licenses for non-financial institutions to operate payment businesses to 27 companies, including Alipay.com.
Rumors on the Internet revealed that the Chinese B2B e-commerce group Alibaba has set up a commercial bank subsidiary, which has gained the approvals of the People's Bank of China and China Banking Regulatory Commission.
The China Banking Association has published its 2009 corporate social responsibility report while celebrating its 10th anniversary in Beijing.
Chinese Internet shopping website Taobao.com has announced that it has cooperated with its sister company Alipay.com and Bank of China in the launch of a co-branded credit card.
TSYS today announced that China UnionPay Data Services Company, TSYS' joint venture with China UnionPay, has signed a long-term credit card processing agreement with the Bank of East Asia.
Shanghai, Jiangsu and Zhejiang have signed a memorandum of understanding with the People's Bank of China on together building a credit system for the Yangtze River Delta.