Mastercard eyes booming Chinese consumer market

Payment network processor banks on innovation to improve service in nation

The transformation of the Chinese economy which utilizes more innovation-driven and consumption-oriented drivers will further consolidate its solid fundamentals, bringing more business opportunities for foreign investors, said a senior executive of Mastercard.

Ling Hai, president for Asia-Pacific, Europe, Middle East and Africa at Mastercard, made the remarks in an exclusive interview with China Daily during the recently held China Development Forum, a two-day event that wrapped up on Monday.

"I think the transformation of the Chinese economy to more consumption-driven and more innovation-driven, in the end, is about a long-term sustainable and more balanced growth model," Ling said.