American Express, ICBC launch China corporate credit card

BEIJING -- American Express Co. (AXP) launched Friday its first corporate credit card in China with the country's biggest bank by assets, Industrial & Commercial Bank of China Ltd. (1349.HK).

Foreign financial firms have partnered with China's biggest banks in the hope of using their extensive networks to sell their products in the world's fastest growing major economy.

ICBC has China's largest network, with over 18,000 outlets.

"This card is tailor-made for large-scale corporations and multinationals in China," said ICBC President Yang Kaisheng. "It will meet the needs of high-end corporate customers."

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