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ICBC Announces Overall Cooperation with Intec
The Industrial and Commercial Bank of China (ICBC) and Intec (Group) Co. Ltd. Tuesday signed an agreement of cooperation in Beijing, marking the initiation of overall cooperation between China's largest commercial bank and one of the country's leading commercial tourism service groups.
After the establishment of the cooperative relation, the two sides will make use of their respective advantages to set up new type of professional service systems, providing international standard commercial and tourism services for all accounts in the ICBC and holders of Peony Card issued by the ICBC.
According to the agreement, the Global Commerce-Tourism Service Center jointly established by the ICBC and Intec will offer Peony Card register and professional services starting from July. The new company will be the first of its kind in China providing commercial and tourism services for banking card holders.
The two sides also plan to issue joint-name credit card combining the functions of capital settlement, tourism, financing, asset management, rescue and insurance.
Being China's largest commercial bank, the ICBC has issued up to 65 million banking cards, with an annual trading volume of 800 billion yuan.
Intec is a high-tech enterprise which first connected China's tourism, financial and information service industries with the Internet, and is the operator of a number of the country's key projects including the China Tourism Ordering Network, China Tourism Electronics Commerce Network and China Investment Invitation Information Network. So far over 7,000 domestic and overseas hotels have joined Intec's networks.
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