OREANDA-NEWS. February 15, 2011. Industrial Bank (IB) partnered with China Eastern Airlines (CEA) to released a co-branded credit card in Shanghai. The card includes three types: Platinum Card, Titanium Card and Gold Card, to meet the needs of different business travel groups. The card integrates the advantageous resources of IB and CEA, combining the co-branded credit card and the CEA membership card based on the conventional financing and payment functions of credit cards. In addition, it provides many returns: mileage-converted tickets, airport VIP services, and direct air ticket selling, and highlights the difference in VIP business travel payments in comparison with similar products, reported the press-centre of Industrial Bank. 

It is reported that for high-end business travel customers’ rewards, IB & CEA’s co-branded credit card provides the optimum air mileage accumulation program in the industry: each 6 points accumulated by a platinum card, 10 points by a titanium card, and 15 points by a gold card, can be converted into 1 CEA air mile.

That means a platinum cardholder can get 1 CEA air mile for a minimum of each RMB 6 spent by swiping the card. What a worthy deal! In addition, a platinum cardholder may also enjoy the optimum rights and benefits of insurance for public transport vehicle accidents up to a maximum of RMB 10 million and happy travel insurance, and the cardholder can enjoy the experience of a CEA silver card member free of charge - eight airport pickups/drop-offs and 24h unlimited road rescue, etc. Moreover, if an applicant of the platinum card reaches certain card-swiping conditions, he or she may also receive a gift of 16,000 air miles presented by IB, a maximum of 20,000 air miles may be given, equivalent to a free air ticket from Shanghai to Beijing. In terms of air ticket direct selling, a cardholder may conveniently enjoy the direct selling service via a number of channels: IB’s website, CEA’s website, 95330 hotline, etc. At the same time, he or she may enjoy many preferences, such as air ticket discounts, more mileage accumulation, etc.

As the first Equator bank in China, IB has issued over 7 million credit cards thus far. At the press release, senior executives of both parties expressed their high confidence in the future market performance of IB & CEA’s co-branded credit card, and indicated that both would take it as a new starting point to carry out more comprehensive in-depth cooperation.

Background information:
Industrial Bank
Founded in August 1988, and headquartered at Fuzhou in Fujian Province, Industrial Bank (IB) is one of the first batch of joint-stock commercial banks approved by the State Council and the People's Bank of China. On February 5, 2007, IB was listed on the Shanghai Stock Exchange (Stock Code: 601166) with registered capital amounting to RMB 5.992 billion. For 23 years, IB has always endeavored to offer all-round, top-quality, and highly efficient financial services to clients on the base of managerial ideas that stress “Developing Together, Growing Together” and “Service Starts with Sincerity”. According to the "Top 1000 World Banks" released by the British Magazine, The Banker, in July 2010, IB ranked 93rd in terms of total assets, and ranked 97th in terms of Tier 1 capital. According to the , IB ranked 245th in terms of a comprehensive ranking; boasting 14th position in the list of 113 Chinese Mainland enterprises.

Industrial Bank’s Credit Card Center
IB’s Credit Card Center was established in 2004 as a Class 1 department directly under the IB Head Office. It was registered in Shanghai after receiving the financial license in 2008, becoming the 5th licensed credit card center in China. Relying on the 42 branches and over 500 sub-branches of IB across China the center issues credit cards around the country. The first credit card was issued on July 21, 2004. By the end of 2010 IB had issued over 7 million credit cards, becoming a big credit card issuer in China.

The Credit Card Center of IB has always adhered to the business tenet of “increasing scale, stressing quality and creating profits”. With a 7-year development, the business scale and comprehensive operational strength have both been improved considerably; service functions have become increasingly well established, and market competition and brand reputation have been continuously elevated. Profitability has been continuously improved along with the continuous growth in the scale of card issuance. Outstanding performance and fast development tendency have won extensive recognition. The center has won the “Business Leap Award” issued by VISA International, the “Best Card Design Award” issued by MasterCard International, “Market Development Award for UnionPay standard credit card” issued by China UnionPay, etc.

In the business travel payment market, the Credit Card Center of IB has always made development and innovation an active and aggressive posture. Since 2008 it has released a range of business travel oriented products, including an IB & JTB business travel platinum credit card, “XING” platinum credit card, eLong travel credit card, Xiamen Airlines egret co-branded credit card and Mangocity credit card, etc., establishing a definite influence in the market.

China Eastern Airlines
China Eastern Airlines Co., Ltd. was established in April 1995 and was listed in the securities markets of Hong Kong, New York and Shanghai in 1997. It is one of the three largest backbone enterprises for civil aviation in China, headquartered in Shanghai.

By December 31, 2009, the company had total assets of about RMB 95.8 billion, over 60,000 employees, more than 330 large and medium sized modern transport aircrafts, and 151 flight routes. The airline’s main businesses are , freight, mail, luggage, and extended aviation services including repairs, agencies, etc. The company builds air transport networks connecting the world with Shanghai (Head office location) as its core hub, and Xi’an and Kunming as regional hubs.

CEA has always upheld the corporate spirit of “satisfying service first and foremost”, and actively promoted the service concept “respecting guests and whole-hearted service”, as well as being committed to the construction of an excellent aviation company “loved by employees, preferred by customers, satisfying to shareholders and trusted by society”. CEA has won the “Air and Space Laurel” issued by the , the “Civil Aviation 10-year whole-hearted Service Award”, and the “Five-star Diamond Award” issued by the , and has held the number one position many years in a row in the “Civil Aviation in the Eyes of Passengers” activity, organized by the National Civil Aviation Association of China.