Bank Issues Int'l Travel Card in Shanghai

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 ◆ Bank Issues Int'l Travel Card in Shanghai

China Construction Bank (CCB) began to issue its first international travel card in Shanghai Thursday to provide cash-free travelling for Shanghai residents. Holders of the card are allowed to withdraw cash from 760,000 automatic teller machines (ATMs) bearing the VISA mark in 138 countries and regions. The cards are also acceptable at more than 22 million shops and points of sale partnered with VISA globally. Insiders here hailed the move as positive for CCB to maintain its competitiveness with foreign banks in Shanghai. An official with the bank said Chinese travelers spend more than 17 billion US dollars per year overseas on tourism, study and business trips. The figure is growing at 20 percent annually.