HONG KONG BANKS SCRAMBLE FOR RENMINBI CREDIT CARD BUSINESS
AsiaInfo Services, October, 2004
AsiaInfo Services 10-08-2004 Hong Kong Banks Scramble for Renminbi Credit Card Business HONGKONG, Oct 08, 2004 (SinoCast via COMTEX) -- The Bank of East Asia (BEA), the largest independent local bank in Hong Kong, revealed that it would launch Renminbi credit card services since October 1. BEA is another Hong Kong bank, following BOC Hong Kong and Shanghai Commercial Bank, which announced to launch Renminbi credit cards.
By far, HSBC, Standard Chartered Bank, Hang Seng Bank, and other banks in Hong Kong have indicated to launch Renminbi credit cards before the yearend. HSBC even announced that it would start that services in mid-October in advance. Since banks in Hong Kong were allowed to start Renminbi business this February, the mainland credit card holders...
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