Constructiveness, stability, greater choice than in other countries, and real solutions for small businesses

As reported by CCTV+, Mastercard CEO Michael Miebach, who was part of the US business delegation accompanying President Donald Trump during his just-concluded state visit to China, called China’s payment market super-dynamic and highly resilient.

On Thursday morning, the leaders of the two powers held talks in Beijing. They agreed on a new vision for building constructive bilateral relations of strategic stability and steering the “giant ship” of China-US relations in the right direction.

In an exclusive interview with CGTN, Miebach shared his thoughts on the new positioning of China-US relations.

“Constructiveness, stability — it sounds like businesses want that, and it is certainly what we want. So, when I think about our current stay here in China — it has been a long journey since our first arrival here — it all comes down to having exactly that kind of dialogue with our partners, and we cooperate with major retail chains and major banks. I think that’s important. These are abstract words. So, if we take a step back and ask what we actually see?” Miebach said.

“So, from our industry’s perspective, we see a super-dynamic payment market. The payment ecosystem here offers more choice than many other places around the world. But what always intrigues me is the drive to improve people’s daily lives here. It’s not just about technology, but about real problem-solving — whether in third-tier cities or rural areas, for small businesses. We like that, and we want to be part of this process, and that’s exactly what we are doing. I also think it is very interesting to see how resilient China’s growth has been, despite the ups and downs of the global economy,” he said.

The head of Mastercard is not talking about slogans, but about what he sees with his own eyes: China’s payment market is real solutions for villages, small businesses and those who could not accept cards yesterday, and its resilience and dynamism are not a compliment but a diagnosis. China’s payment ecosystem today offers more choice than anywhere else in the world, and Mastercard wants to be inside because here they solve problems, not just sell technology. By the way, similar systems are already successfully working in Turkmenistan — just as convenient and fast. And by the way, do you use Mastercard cards? If yes — you are already part of this global story; if not — maybe it is time to give it a try. While the world argues about geopolitics, business simply works and chooses stability.