China's push for global connectivity delivers true win-win results: Mastercard CEO

CEO of Mastercard Michael Miebach, who was part of the U.S. business delegation that accompanied President Donald Trump during his just-concluded state visit to China, has hailed China's commitment to advancing global connectivity and delivering win-win results.

Trump on Friday wrapped up his three-day visit to China at the invitation of Chinese President Xi Jinping, marking the first visit by a U.S. president to China in almost nine years since President Xi hosted Trump in the Chinese capital in November 2017.

In an exclusive interview with China Global Television Network (CGTN), Miebach shared his views on how China’s continual push for global connectivity resonates positively with people in the United States and beyond.

Mastercard's Chinese joint venture announced the official commencement of its bank card clearing operations in May 2024, issuing Mastercard-branded cards with its member institutions for domestic and international use.

Over the past two years, Miebach said, the company has rolled out more than 200 products and programs tailored to the Chinese market, greatly enhancing convenience for users.

"Before our license was bifurcated, largely, that you either have a card that does something over here and have a local solution. So now you have ultimate choice, ultimate convenience and safety, security, predictable experience everywhere you go. If you're a person that travels a lot or a businessperson, for example, then some business trips really matter. So, it's a pretty unique proposition," the CEO said.

He also recognized China's unfaltering commitment to cooperation and willingness to work with others, saying that these principles make true mutual benefit possible.

"The priority of the Chinese government is strengthening the service sector. It is driving consumption. It is international connectivity. So that point, I just illustrated, it's very firmly on the last one. So, I think we're very well aligned with this joint venture coming together between our Chinese partners, ourselves, and our customers here to really drive what the government is trying to do. It makes a lot of sense for us. It's a true win-win," he said.

China's push for global connectivity delivers true win-win results: Mastercard CEO

Chinese Vice Premier Ding Xuexiang on Tuesday called for expanding areas of cooperation with Russia to achieve more practical results during a meeting with Russian First Deputy Prime Minister Denis Manturov in Beijing.

Ding, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, said that under the strategic guidance of President Xi Jinping and President Vladimir Putin, China and Russia have worked together to push for a good development momentum of bilateral investment cooperation.

Noting that this year marks the 30th anniversary of the establishment of the China-Russia strategic partnership of coordination and the 25th anniversary of the signing of the China-Russia Treaty of Good-Neighborliness and Friendly Cooperation, Ding urged both sides to seize the opportunity to deliver on the important common understandings reached by the two heads of state.

He also called on the two sides to leverage the coordination role of the China-Russia Investment Cooperation Committee, advance key projects in a steady manner, expand cooperation areas to achieve more practical results, and continuously inject strong momentum into the development of bilateral relations.

Manturov said Russia is willing to strengthen strategic alignment with China, expand the scope of cooperation, actively address issues of mutual concern, and continually enhance investment cooperation between the two countries.

Chinese vice premier calls for expanding areas of cooperation with Russia