Beijing says Visa's China approval was a direct outcome of the Xi-Trump summit. Market access is being framed as a bargaining chip in the relationship, which matters more for the tape than the license

What happened: China said its approval for Visa to operate a bank card clearing institution in the country was the direct outcome of Xi Jinping's state visit to the United States last month. Why it matters: Beijing framed the approval as a result of the presidential summit, tying the market access decision to the diplomatic meeting between the two countries. Key numbers: The approval followed Xi's state visit last month.

China said its approval for Visa to operate a bank card clearing institution in the country was the direct outcome of Xi Jinping's state visit to the United States last month.

Beijing framed the approval as a result of the presidential summit, tying the market access decision to the diplomatic meeting between the two countries. Key numbers: The approval followed Xi's state visit last month.