In November, China's central bank and the National Financial Regulatory Administration approved an application by Mastercard's Chinese joint venture to conduct bank card clearing operations in the country. The joint venture of Mastercard and NetsUnion Clearing Corporation (NUCC) will authorize its member institutions to issue yuan-denominated "MasterCard" bank cards in China. CGTN's Tian Wei talks to Ling Hai, president of Mastercard International Markets. Ling says the Mastercard and NUCC joint venture is just like a marriage. The key to success is that both sides bring complementary skill sets, capabilities and assets. The NUCC offers Mastercard local know-how and technology infrastructure. It will really help Mastercard navigate the Chinese marketplace.