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United Kingdom-based Standard Chartered Bank says it has won approval from the People's Bank of China to issue yuan-based debit cards in China. Standard Chartered in September applied for permission from the Chinese government to issue cards in China, a bank spokesperson tells CardLine Global. The bank established a "card-database center" in May, a requirement for issuing the cards, the spokesperson says. Standard Chartered is talking with China-based card network China UnionPay about working on a joint card effort, "and we will do our best to issue [the cards] in mainland China very soon," the spokesperson says without giving details about the schedule for the card launch. Standard Chartered has 29 branches in China and expects to expand the total to 40, the spokesperson says.

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