US payment giant Visa has achieved significant progress in entering China’s massive domestic bank card clearing market. After a long wait, the company has received formal approval from the central bank of China to begin preparatory work. This allows Visa, one of the world’s largest financial transaction processors, to move forward in accessing this substantial market. The approval marks a major step for Visa as it aims to expand its services within China. This development signifies growing openness in China’s financial sector. The text also briefly mentions a caution against blindly trusting AI, although the details are not elaborated upon in this excerpt. This move is expected to increase competition and innovation within China’s payment ecosystem.