The Hong Kong and Shanghai Banking Corporation Limited (HSBC) launched its renminbi (RMB) credit card services in Hong Kong Monday.

The new service would provide financial convenience to customers who frequently travel to the Chinese mainland.

HSBC will offer a choice of a gold or classic credit card, which will be widely accepted through China UnionPay Company Limited's (CUP) network of some 370,000 merchants and over 60,000 ATMs throughout the mainland.

General Manager of HSBC Raymond Or said, "In addition to benefiting from the added convenience and flexibility, the RMB cards will bring to customers who travel frequently to the Chinese mainland."

Hang Seng Bank, another member bank of the HSBC group, also announced its launch of RMB credit card Monday.

Bank of China (Hong Kong) has issued its RMB credit card service earlier this year, making it the first Hong Kong bank to provide such services, and followed by the Shanghai Commercial Bank.

(Xinhua News Agency October 12, 2004)