Bank of China (Hong Kong) Limited (BOCHK), Hong Kong Chinese Enterprises Association (HKCEA) and China UnionPay (CUP) jointly announced Tuesday the launch of BOC HKCEA Dual Currency Credit Card.

It is the first dual currency co-branded credit card to be issued in Hong Kong which displays the China UnionPay logo and use both RMB and HKD as the settlement currencies.

As introduced by BOCHK and China UnionPay, the card is widely accepted on Chinese mainland and overseas, and specially designed for members of HKCEA in Hong Kong who are frequent travelers to the mainland and overseas for business and leisure.

"The launch of this BOC HKCEA Dual Currency Credit Card integrates the renowned brands of BOCHK, HKCEA and CUP. By capitalizing on the extensive service network of Bank of China (Hong Kong) and China UnionPay, members of Chinese enterprises can access more payment services, and enjoy more privileges and convenience," said Dickson So, general manager of BOC Credit Card, at the launch ceremony.

He added that the joint efforts of HKCEA and CUP will not only promote the exchange and development between the commercial and industrial companies in the Chinese mainland and Hong Kong, but also strengthen the cooperation between Chinese enterprises in Hong Kong.

BOC HKCEA Dual Currency Credit Card features both RMB and HKD accounts all-in-one. Transactions conducted in the Chinese mainland are posted in RMB, while transactions conducted in Hong Kong and overseas are posted in HKD. Cardholders can also enjoy the handling fee waiver for all transactions and cash advances conducted in Chinese mainland and overseas.

(Xinhua News Agency July 29, 2009)