Central Banking

Bank cards get OK for Hong Kong use

Mainland-based banks have got agreement from the People's Bank of China to expand their bank card business in Hong Kong, even though overseas banks are still banned from issuing bank cards on the Chinese mainland.

Bank cards issued by domestic banks with the logo of China Unionpay Co Ltd -- the only national payment network -- were able to be used for shopping, catering and accommodation through point-of-sale (POS) machines in Hong Kong.

The cards can also be used for the withdrawal of Hong Kon