Visa is trading higher this morning following the major announcement late yesterday that the company received approval from the People's Bank of China to begin preparations for a domestic bank card clearing business. This long-awaited regulatory milestone allows Visa to establish a local presence in the Chinese market, bringing it in line with competitors like Mastercard and American Express. The stock is also benefiting from positive sentiment surrounding its recent 14% dividend increase and analyst expectations for a potential earnings beat when the company reports on October 27.