——It is the first time for domestic banks to issue credit card jointly with famous private enterprises

Oct. 24—China Construction Bank (CCB) and Wanxiang Group held the issuance ceremony for Wanxiang Long Card, the first domestic joint Long card with famous private enterprises, in the People’s Grand Hall of Zhejiang province. CCB will go hand in hand with top 500 enterprises in Zhejiang province of China to establish strategic relations and create international credit brand. It is another great measure for CCB to improve the brand value of the bank and the enterprise and this has a strategic significance.

Wanxiang Long Card is a special credit card designed for Wanxiang Group, the famous private enterprise in Zhejiang. The surface of the card is designed with the background of Wanxiang Group’s building and Chairman of Mr. Lu Guanqiu. In addition to all functions of CCB’s credit card such as to use the two-currency credit card globally, to repay the card after use it, to choose password or signature within China as your wish, no risk for reporting the loss of your card, this card also set some featured services for card users as follows: installment with interest free, buying with consuming points, healthy services, etc. It just likes what Chairman of Wanxiang Group Mr. Lu Guanqiu said: Wanxiang Long Card provides a new way of wealth management for Wanxiang’s staff and can improve the brand value of the enterprise. Wanxiang Long Card will also help Wanxiang’s staff strengthen their credit awareness and their cohesion, so that it will play an affirmative role in improving the Group’s culture.

It is a common practice in the international market for Banks and large enterprises to work together to issue joint cards and establish strategic relations. In 2005, CCB was awarded by the Banker as Best Bank in China, the only bank received this award among China’s banks in that year. In 2006, CCB was ranked as the No. I among Top 100 Banks in China by the Banker. One month ago, CCB became the first H share company to join Hang Seng Index family and on Sep. 11, officially joined Hang Seng Index. Wanxiang Group is one of the largest manufacturing enterprises in auto fittings in China and enjoys good reputation both inside and outside of China. Based on the long-term cooperation relationship, CCB and Wanxiang Group will take the issuance of Wanxiang Long Card as an opportunity to improve two sides relationship, and will unswervingly insist on the customer-centric philosophy, continue to strengthen innovation, take great efforts in providing best services for cardholders of Wanxiang Long Card, and make Wanxiang Long Card a well-known brand in domestic credit cards domain.

With the strong economic base, Zhejiang province has a sound financial environment for the issuance of credit cards and is one of the hottest credit markets for all banks to enter. The issuance of Wanxiang Long Card signifies the successful launch of CCB’s series of joint credit cards with famous enterprises. To jointly issue Long credit card with large and famous enterprise is also another major measure that CCB has been adopted towards Zhejiang’s credit market following its issuance of CCB-University Long Card.