A network that would let consumers and businesses instantly move money around has already been adopted by several big banks. But for it to truly catch on, financial products will have to incorporate the system into their own services.

Since the Tiananmen protests in 1989, China has allowed citizens more economic freedoms, which have benefited a lot of American brands, but there are still sectors they are heavily restricted in.

China announced new measures that will give foreign banks and investors more ownership control over their operations in the country.

The issuer of the famous Black Card is focusing on low-income financial services.