The first dual-currency aviation co-branded credit card Eastern Airlines Long Card is issued the same day

On February 28, China Construction Bank Corp. (CCB) signed a strategic cooperation agreement with China Eastern Airlines Group and China Eastern Airlines Corporation Limited respectively in Shanghai. CCB will provide the two companies with all-round financial services including Renminbi and foreign currency financing, capital liquidation, settlement and inquiry, financial advisory and consulting and offer prime rates in accordance with related policies. Meanwhile, CCB and Eastern Airlines Corporation jointly launched the first dual-currency aviation co-branded credit card - Eastern Airlines Long Card. Feng Guoqin, First Deputy Mayor of Shanghai, Chang Zhenming, President of CCB, Fan Yifei, Vice President of CCB, Li Fenghua, President of China Eastern Airlines Group and Luo Chaogeng, General Manager of China Eastern Airlines Corporation attended the signing ceremony of the strategic cooperation agreement and the launch ceremony of Eastern Airlines Long Card.

China Eastern Airlines has long been one of the major strategic partners of CCB. As early as in 1998, CCB has worked closely with Eastern Airlines Corporation and the two parties signed the Agreement Between Bank and Enterprise. After 2002 CCB once again joined hands with Eastern Airlines Group, granting the latter annual overall credit limit and establishing a strategic partnership.

According to the Strategic Cooperation Agreement, CCB will give precedence to providing Eastern Airlines with various Renminbi and foreign currency financing products including Renminbi and foreign currency short-term loan, long and medium-term loan, bill acceptance and discount, trade financing and overdraft account to meet temporary capital need and offer prime rates according to related policies. CCB will also use its unique VIP customer service and online banking systems to provide capital liquidation, settlement and inquiry services for Eastern Airlines to help it with capital management. CCB will offer Eastern Airlines financial consulting services for its M&A, financing and investment activities, raise expert suggestions on wealth management and design the capital gain plan and exchange rate and interest rate risk control plans by using financial derivatives. In the process of cooperation, CCB will set up a customer manager team headed by officials from the bank’s headquarters to exchange information with and provide services for Eastern Airlines.

The first dual-currency aviation co-branded credit card - Eastern Airlines Long Card launched on the same day is a high-end financial product which is up to the international standards and especially tailored for frequent business passengers and combines the functions of Eastern Miles Card and Long Credit Card (dual-currency). Compared wit similar products on the Chinese market, it has three advantages. First, shopping with the card to accumulate points and quickly adding up mileage on the most favorable conditions to enjoy free flights; second, gold or silver card holders enjoy corresponding airport VIP room services and priority services at CCB outlets as well; third, buying air tickets with the card to enjoy three insurances for free including air-travel accident insurance, flight delay insurance and baggage delay insurance.

During his speech Chang Zhenming, President of CCB, noted over more than a decade CCB and Eastern Airlines have been conducting extensive and in-depth business cooperation and established mutual trust. CCB will follow the “customer-oriented” business philosophy to improve financial service capacity and provide Eastern Airlines, as always, with comprehensive financial support.