The Industrial and Commercial Bank of China (ICBC) USA launched its first US credit cards in New York on Tuesday, aiming to serve consumers who travel frequently between the world's two largest economies.
The largest bank and card issuer in China is offering new credit cards featuring two brands, UnionPay and Visa.
For both networks, the ICBC offers two levels of cards: preferred and premier, with the first allowing customers to earn 1 percent cash back on their spending with no annual fee.
Roughly 2.7 million Chinese traveled to the United States in 2015, and about 2 million Americans made trips to China for business. About 300,000 Chinese students are studying in the United States.
“We see a tremendous opportunity to serve these groups of consumers for their particular needs and serve them well," said Luo Xintao, president and chief executive of ICBC USA.—Xinhua
