On the 20th, the State Administration of Financial Supervision and Administration of China issued a notice on matters related to the opening of bank card business by mainland branches of Hong Kong and Macao banks, allowing them to open foreign currency bank card business and RMB bank card business for customers other than Chinese citizens. It is understood that the notice applies to commercial banks in Hong Kong Special Administrative Region and Macao Special Administrative Region that have been approved to establish branches in mainland China in accordance with relevant laws and regulations. The head of the relevant department of the State Administration for Financial Regulation stated that the notice stipulates that for Hong Kong and Macao banks to establish multiple branches in mainland China, if they want to start bank card business, the management bank should first establish it, and specific procedures have been clarified. At the same time, the notice also takes into account the special situation where the management bank has no plans to launch bank card business but other branches have plans to launch bank card business, and clarifies the specific procedures. In order to strengthen the main responsibility of banks, the notice requires the mainland branches of Hong Kong and Macao banks to establish bank card business, effectively protect the legitimate rights and interests of consumers, strengthen institutional construction, compliance management, and risk control, enhance network security, data security, and business continuity management, effectively protect personal information, strictly comply with relevant laws, regulations, and regulatory provisions, and require the management bank to coordinate and be responsible for the management of mainland bank card business. At the same time, the notice requires local regulatory authorities to strengthen the supervision and management of the bank card business of Hong Kong and Macao banks' mainland branches, urge institutions to carry out bank card business in accordance with the law and regulations, effectively prevent risks, and protect the legitimate rights and interests of consumers. (New Society)