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Agricultural Bank Expands Credit Card Service
The Agricultural Bank of China, one of the country's four big State banks, has laid great stress on its credit card business with the aim of sharpening its competitive edge in preparation for the imminent entry of foreign counterparts, said a bank official.
"Our credit cards will enable us to compete with other commercial banks now that China's economy is making big strides and its entry into the World Trade Organization is pending," China Daily quoted Zhu Weiguo, director of the bank's credit card department as saying.
"Commercial banks in China and other cards must have comprehensive functions. This is our main goal," Zhu said. So far, most of China's commercial banks' credit cards only offer services like withdrawal, deposit and bill paying.
The Agricultural Bank's Golden Spike Card has witnessed rapid growth in recent years thanks to the establishment of a sound management system and an active exploration of new functions, Zhu added.
By the end of May this year, the Golden Spike card had been issued to customers in 330 cities and the number of contracted shops had reached 90,000.
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