OREANDA-NEWS. November 14, 2014. Citibank (China) Co., Ltd. (Citi China) launched its ULTIMA credit card, its first card to exclusively target China's high net worth individuals (HNWIs). An elegant and stylish launch ceremony was held at Park Hyatt Shanghai today, attended by Citi China's executive members, as well as Chinese media icon Ms. Yang Lan, who will be among the first invited members of Citi ULTIMA club in China.

Andrew Au, Chairman and Chief Executive Officer of Citi China said, At Citi, we have always been committed to delivering remarkable experience across our products and customer segments. The launch of the ULTIMA credit card, which is well aligned with our aim to be a leader in the affluent segment, marks a new milestone for our consumer banking business. We will continue to invest in China, a priority market for Citi globally, to meet the evolving financial service needs of clients with innovative products and excellent services.

Kai Zhang, Citi China Consumer Business Manager added, As an integral part of Citi China's consumer banking business, credit card plays a key role in expanding our customer base while enhancing Citi's brand in China. As China's economy grows, the number of high net worth individuals is growing rapidly, who are looking for lifestyle experiences that are uniquely their own. With the launch of the new ULTIMA card, Citi is well-positioned to meet the lifestyle needs of this growing segment.

The ULTIMA card is launched in partnership with MasterCard for its US-denominated card and China Union Pay (CUP) for its RMB-denominated card. Celebrating the card launch, Vicky Bindra, president, Asia Pacific and Global Accounts, MasterCard, said, The new Citi ULTIMA card supported by MasterCard World Elite platform illustrates our commitment to providing the best solutions to meet the needs of premium cardholders while driving value and growth for our customers and merchants. Ying Hu, Assistant Vice President of CUP said, CUP attaches great importance to the partnership with Citi on the launch of ULTIMA Card, which is based on our most prestigious Diamond platform, and will continue to develop more tailor-made prestigious service to meet the evolving needs of the elite customers.

As the most high-end offering of Citi's credit card portfolio, the ULTIMA card is part of Citi's strategy to meet the growing needs of HNWIs in China. Membership for the new ULTIMA card will be by invitation only. The new ULTIMA brings card members a range of privileges that are tailored to the unique needs of this customer segment

All ULTIMA card members will be partnered with their own Lifestyle Manager, giving them customized, dedicated service, advice on travel and leisure needs, as well as access to exclusive events and privileges.

In addition, the new ULTIMA card offers unmatched rewards, including the best air miles conversion rate in the market, unlimited access to premium airport lounges around the world, fast-track customs service at major international airports, limo service from and to the airports in major cities in China. Card members will also enjoy golf privileges, and customized experiences at gourmet events, restaurants and five-star hotels worldwide.

Since its launch in September 2012, Citi China's credit card business has been developing steadily over the last two years. Currently, Citi credit card operates in three categories—ULTIMA, Premier Miles and Rewards, targeting different consumer segments according to their spending preferences. The Premier Miles Card boasts the widest range of choices for over 70 airlines and access to over 700 airport lounges worldwide; Rewards Card holders can choose from different categories to earn three times rewards point with a growing customer base in the affluent and emerging affluent market segments.