Does the issuance of tourist cards require the approval of the People's Bank of China?

Need. Without the approval of the People's Bank of China, any non-financial institution may not issue multi-purpose prepaid cards, so it needs the approval of the People's Bank of China. The People's Bank of China is the central bank of People's Republic of China (PRC) with ministerial status. Its responsibilities include formulating monetary policy, issuing RMB and managing financial institutions. Headquartered in Beijing, it is one of the constituent departments of the State Council.