UnionPay eyes expansion with trade initiatives

China UnionPay is promoting economic and personnel exchanges along the "Belt and Road Initiative" by enhancing cooperation with major banks in the countries on the trade routes.

The Chinese bank card company has already expanded the UnionPay card acceptance network to more than 50 of the 64 countries along the Silk Road Economic Belt and the 21st Century Maritime Silk Road.

Following the announcement of the trade initiatives, there have been frequent economic and personnel exchanges between China and Kazakhstan, said David Lee, chief cooperation officer of UnionPay International, a subsidiary of China UnionPay that focuses on global business.