Chinese Credit Card
For the first time, Chinese who travel abroad can have a foreign-branded credit card they can use at both ends of the trip. Citibank has joined forces with Shanghai Pudong Development Bank to offer the card, which can be used at any retailer that takes Visa. The card will be co-branded with both banks' logos. About 570 million bank cards have been issued in China. However, almost all are debit cards that draw money directly from consumers' bank accounts.
Copyright © 2004 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 14, No. 4, 7/05
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