The People’s Bank of China and the National Financial Regulatory Administration jointly issued revised rules governing bank card clearing institutions, updating the regulatory framework for licensing, operations and supervision. The measures take effect on 1 November 2025 and will repeal the 2016 Administration Measures for Bank Card Clearing Institutions. The revised framework specifies application conditions, required documentation and procedures for key administrative approvals, including preparatory establishment, commencement of business, opening branches and the approval of directors’ and senior managers’ qualifications. It also sets requirements for approvals related to major changes and termination events, such as changes to significant matters, branch mergers or closures, and ending part or all of an institution’s business, and sets operating expectations covering clearing business rules, constraints on member institutions, the risk management framework and outsourcing governance, alongside updated supervision provisions. The two authorities indicated they will continue joint supervision of bank card clearing institutions under the new regime.
Central Bank of the Republic of China 2025-04-30
People’s Bank of China and National Financial Regulatory Administration issue revised rules for bank card clearing institutions effective 1 November 2025
The People’s Bank of China and the National Financial Regulatory Administration have issued revised rules for bank card clearing institutions, effective 1 November 2025, replacing the 2016 measures. The updated framework outlines licensing, operational, and supervisory requirements, including application conditions, administrative approvals, and risk management. Joint supervision by the two authorities will continue under the new regime.