US Presses China on Mastercard and Citigroup Market Access in Bangkok Talks

The United States raised the issue of market access for Mastercard and Citigroup during bilateral talks with China held in Bangkok, according to an official cited in a CNBC report. The discussions placed the two American financial firms' ability to operate in the Chinese market on the agenda of the face-to-face negotiations between the two sides.

The talks in Bangkok mark a renewed push by Washington to address longstanding concerns about the treatment of US financial services companies seeking to expand in China. Mastercard and Citigroup are among the US firms whose operations in the world's second-largest economy have been subject to Chinese regulatory approval and licensing requirements.

The official's account indicates that market access for the two firms was a specific item raised by the US side rather than a general discussion of trade and investment conditions. The report did not disclose the outcome of those discussions or any commitments made by either delegation.

For investors, the talks highlight the continuing role of financial services access in the broader US-China economic relationship. Any progress on licensing or operating permissions for major US banks and payment networks would be closely watched by shareholders in both companies, given the scale of the Chinese market and the lengthy approval processes that have historically constrained foreign firms.

The report provided no timeline for further discussions and no indication of whether additional rounds of talks are planned. Details on the composition of the delegations and the broader agenda of the Bangkok meetings were not disclosed in the source account.