Mainland Branches of Macau, HK banks to offer cards

Starting March 1, mainland branches of banks from Macau and Hong Kong can offer bank card services, according to a National Financial Regulatory Administration (NFRA) notice. The move aligns with amendments to the Closer Economic Partnership Arrangement (CEPA) and aims to boost financial integration within the Guangdong-Hong Kong-Macao Greater Bay Area. It will allow foreign currency and yuan bank cards for overseas Chinese citizens and enhance economic cooperation between the mainland and the SARs.