China Construction Bank (CCB) has become the latest mainland lender to try for a bigger slice of the credit-card market.
CCB, one of the big four state banks, has moved its card operations from its Beijing head office to a new credit-card centre in Shanghai.
The Shanghai centre will enable CCB to kick-start its credit-card business in the more sophisticated environment provided by the city, which has the country's highest density of 'virtual' banking establishments, such as automatic teller machines.
Speaking after the centre's opening this week, president Zhang Enzhao said: 'The credit-card centre will improve our efficiency and risk control.'
He said it would facilitate financial innovation, 'thus enhancing our competitiveness and services in the card business'.
The number of bank cards issued in Shanghai accounts for 10 per cent of the country's total. Lured by the Shanghai city government, Shenzhen-based China Merchants Bank was the first to move its credit-card centre to Shanghai, followed by Beijing-based Huaxia Bank.
CCB's move represents a key step in expanding its credit-card business.
