The United States raised market access issues concerning Mastercard and Citigroup with Chinese officials during bilateral meetings in Bangkok this week, a U.S. Treasury official said.
The official, speaking on condition of anonymity, said the discussions highlighted U.S. concerns about the ability of those two American firms to operate and expand in the Chinese market. The official did not provide further details about Chinese responses or any immediate outcomes from the talks.
The exchange comes amid broader scrutiny of market access for foreign financial firms in China, a recurring topic in economic and diplomatic engagements between the two countries. Credit card networks and global banks have in recent years sought deeper participation in China’s financial sector, where regulatory and ownership rules can pose barriers to expansion.
The meetings in Bangkok were part of bilateral contacts between U.S. and Chinese officials scheduled this week. The Treasury official declined to elaborate on whether the issue will be raised again in forthcoming meetings or what specific remedies Washington might seek.
Representatives for Mastercard and Citigroup did not comment through the Treasury official’s statement. The U.S. and China have periodically used high-level dialogues to press for improved access for their respective firms, and the Bangkok discussions signal that market access remains a live issue for U.S. economic policymakers.