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Nation's 3rd-largest lender unveils credit card with travel booking
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CHINA’S third-biggest lender, the Agricultural Bank of China, joined the rest of the Big Five banks in the country in launching a credit card that provides travel booking services.
The card is called Global Business Travel but is not limited to business travelers, officials said.
China’s Big Five banks — Industrial and Commercial Bank of China, China Construction Bank, AgBank, Bank of China and Bank of Communications — account for about 50 percent of the country’s credit card business in terms of users, according to media reports.
Zhang Lilin, general manager of credit card center at AgBank, said today in Shanghai that the growth of cus-tomer wealth exceeded the pace of banking reforms. Financial institutions ought to meet more diversified needs of customers with the backdrop of the fast-evolving internet and e-commerce environment.
The lender launched the new credit card and platform today to tap into the growing demand of Chinese con-sumers for overseas travel and shopping.
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