The People's Bank of China and the National Financial Regulatory Administration have jointly issued revised Management Measures for Bank Card Clearing Institutions, updating the 2016 framework and setting out more detailed requirements for licensing, operations and supervision of card clearing institutions. The measures take effect on 1 November 2025 and were accompanied by an official Q&A that frames the update as largely retaining existing market-entry conditions while refining regulatory expectations in line with market developments. The measures comprise seven chapters and 58 articles. They refine administrative licensing requirements for preparation, commencement of business, establishment of branches, and approvals for directors and senior management, including updated application materials and simplified supporting documentation, and they introduce a reporting obligation for overseas institutions providing foreign-currency bank card clearing services for cross-border transactions. Dedicated chapters on operations management and supervisory management set baseline expectations on clearing business rules, member institution management and constraints, internal control, risk management frameworks, outsourcing management and business continuity, alongside a clearer allocation of supervisory responsibilities for the central bank and its branches and new requirements for major-issue and business reporting. The People's Bank of China will work with the National Financial Regulatory Administration to conduct outreach and interpretation, update supporting documents for administrative licensing, and strengthen implementation by督促 clearing institutions to operate in compliance and to improve their rules and risk management frameworks.
Central Bank of the Republic of China 2025-04-30
People's Bank of China and National Financial Regulatory Administration issue revised management measures for bank card clearing institutions effective 1 November 2025
The People's Bank of China and the National Financial Regulatory Administration have revised the Management Measures for Bank Card Clearing Institutions, effective 1 November 2025, updating licensing, operations, and supervision requirements. The measures refine administrative licensing, introduce reporting obligations for overseas institutions, and set expectations for operations and supervisory management. Authorities will conduct outreach and update documents to ensure compliance and improved risk management frameworks.