China UnionPay, CCB launch dual-currency credit card in HK

BEIJING - China UnionPay, a national bank card association, and China Construction Bank (Asia) on Thursday launched a dual-currency credit card in Hong Kong to facilitate card holders who travel across the mainland and Hong Kong.

The card has two accounts that enable transactions to be settled either in renminbi in the mainland or in Hong Kong dollars in other regions, said Cai Jianbo, vice president of China Unionpay.

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The card also provides other services to holders, such as cash rebates and discounts on bus fares. Like other Unionpay cards, it can be used in 104 countries and help card holders save currency conversion fees, Cai said.

Hong Kong is one of the regions where Unionpay cards are widely used. Cai Jianbo said Unionpay cards are currently accepted in 99 percent of ATMs and by more than 85 percent of merchants in Hong Kong.