HKTB, China UnionPay to launch joint promotions
(Xinhua)
Updated: 2004-09-16 09:31

The Hong Kong Tourism Board (HKTB) and China UnionPay Co Ltd pledged Wednesday to step up their cooperation on promotion Hong Kong -- the first city outside the Chinese mainland where China UnionPay (CUP) cards can be used.

Joint promotions on Hong Kong's quality service will be staged to encourage CUP card spending by Chinese mainland visitors and their patronage of merchants accredited under the Quality Tourism Services (QTS) Scheme.

The two organizations' cooperation was sealed by Wednesday's signing of a memorandum of understanding (MoU) and the announcement of a series of joint promotions.

HKTB Chairman Selina Chow said that the signing of the MoU marked the start of a win-win partnership. Keen on expanding its business and the use of its cards in Hong Kong, China UnionPay made an ideal strategic partner for the HKTB, which intended to leverage on the company's extensive customer base and banking networks in the Chinese mainland to promote Hong Kong as the premier travel destination among its target segments and stimulate their spending.

President of China UnionPay Co. Ltd Wan Jianhua said that the company had been working closely with its member banks in Hong Kong to develop the CUP renminbi card business. As well as providing high quality and efficient renminbi payment services for residents, the company is committed to fostering closer economic cooperation between the Chinese mainland and Hong Kong.

"The Chinese mainland is Hong Kong's largest inbound source market. It also has the highest per capita spending, which stood at HK$6,018 in 2003," said Chow. "We hope that this MoU will offer not only more business opportunities for our tourism-related sectors, including the travel, retail and catering industries, but also a new business platform for our banking industry, thereby benefiting our economy."

China UnionPay was established through capital contributions by more than 80 domestic banks in the Chinese mainland. Hong Kong, being a major financial center and the region's premier destination, is the first city outside the Chinese mainland where the China UnionPay will join forces with local banking, retail and catering sectors. Together they will encourage visitors' spending by staging various marketing activities, which are set to create greater growth momentum for the economy.

To encourage CUP card spending in Hong Kong, China UnionPay will stage a promotion offering over 6,000 prizes in October. From October 1 to October 7, the company will award one digital video camera worth HK$8,000 each day.

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