On April 26 local time, Industrial and Commercial Bank of China (ICBC) successfully issued its first UnionPay-branded credit card in New York. It is the first time that a Chinese commercial bank has independently issued a credit card in the U.S., and that the first UnionPay-branded card has been issued in the U.S. market. ICBC also signed a cooperation agreement with China National Tourist Office, New York, for the U.S.-China Tourism Year and will support the event by providing professional and reliable financial services.

According to Wang Xiquan, Vice President of ICBC, the first issuance of ICBC credit card in the U.S. market is an important stop to promote the U.S.-China economic exchange, facilitate the U.S.-China Tourism Year, and serve customers in the local market. The U.S. is the birthplace of credit card and the most important credit card market. The issue of credit card in the U.S. market represents a significant stride for the international development of both UnionPay and ICBC, which is also of great significance in expansion of banking service chain in the international market and strengthening of global market position for China’s banking industry.

Credit card issued in the U.S. this time principally aims at meeting the demand for consumption payment of customers who travel frequently between the U.S. and China.  At present, ICBC ranks the third in the world and top in Asia with its over-110 million cards issued. As the only commercial bank issuing credit cards in collaboration with the six international card organizations including UnionPay, VISA, Master, American Express, JCB and Diners, ICBC has already issued cards in 22 countries and territories in Asia, Europe, Oceania, North America and South America.