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Strategies & Market Trends : Greater China Stocks

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From: Julius Wong	6/8/2016 8:40:53 AM
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China sets rules for foreign payment card companies Jun 8 2016, 08:32 ET \| By: Clark Schultz, SA News Editor China officially issued rules covering the entry of foreign payment card issuers operating in the nation. The card payment market in China is estimated at 55T yuan ($8.4T). As expected, the rules from the Peoples Bank of China require a foreign issuer to hold 1B yuan ($152M) in capital in a Chinese company. Certain cyber security requirements are also in place. Visa (NYSE: V) already partners with UnionPay in the region, while MasterCard (NYSE: MA) has relationships with Alibaba and Tenpay. Analysts have been pointing to the huge upside in China for MasterCard and Visa for about a year, a period of time both stocks have outperformed the S&P 500 Index (V +18%, MA +4%, SPY +1%).

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