[The People's Bank of China approves Visa Company's preparation for a bank card clearing agency] On October 13, the People's Bank of China announced on October 13 that it had issued an administrative licensing decision to Visa Information Technology (Beijing) Co., Ltd. and approved its preparation for a bank card clearing agency. Subsequently, Visa Company needs to complete the preparatory work within one year, and then it can submit an application for opening. The People's Bank of China, together with the State Administration of Financial Supervision, will issue a bank card clearing business license after approval. According to reports, Visa Information Technology (Beijing) Co., Ltd. is a corporate legal person established by Visa in China and is a foreign-invested enterprise.