The Industrial and Commercial Bank of China and Shangri-La Hotels and Resorts jointly held a press conference at China World Summit Wing Beijing on July 28 to announce the launch of the ICBC Shangri-La Credit Card. The launch makes Shangri-La Hotels and Resorts ICBC's first co-branded credit card hotel partner.

According to the latest data released by Payments Source, the number of credit cards issued by ICBC has reached 115 million, making ICBC the world's largest credit card issuing bank.

Hong Kong-based Shangri-La Hotels and Resorts currently owns or manages 98 hotels under the Shangri-La brand with a room inventory of more than 40,000.

The group is celebrating the fifth anniversary of its well-known loyalty program Golden Circle Award Points this year.

Golden Circle membership has increased from 1.7 million to 4.5 million in five years, with members based in China accounting for 38 percent of the total.

The partnership between ICBC and Shangri-La is built on the shared value by both brands to consistently provide customers with excellent services and exclusive rewards.

"ICBC is China's largest bank and the world's largest credit card issuer," said Steven Taylor, chief marketing officer with Shangri-La Hotels and Resorts. "We are honored to be able to partner with them to offer customers the benefits Golden Circle has to offer and help turn their everyday spend into luxurious experiences in Shangri-La hotels."

Taylor said, in this digital age, internet technology and big players have changed the way customers interact with brands. The group needs to better understand customers and create truly personal experiences for them.

The ICBC Shangri-La Credit Card features ICBC's special financial function that supports 10 foreign currencies in one card. It uses a chip to provide more secure and convenient domestic and overseas payment services through partnership with UnionPay, MasterCard and Visa.

The Card also features the advanced product design of dual numbers, making it a fully-functioning ICBC platinum credit card as well as a Shangri-La Golden Circle member card for automatic points earnings at the point of sale.

In addition to the financial functions, the ICBC Shangri-La Credit Card offers unmatched privileges and benefits for food and room experiences at Shangri-La properties worldwide.

Cardholders can earn triple points for spends at all Shangri-La hotels and resorts, enjoy a 15 percent discount when dining at Shangri-La hotels and are not charged the usual annual card fee for the first year.

Other promotions include a 10 percent discount on the best available rates for guestrooms; up to 20 percent off yearly membership fees for fitness centers; fast-tracked membership upgrades; and 1,000 bonus Golden Circle Award Points for new cards when more than 30,000 yuan ($4,500) has been spent within three months of card issuance.

liuzhihua@chinadaily.com.cn

(China Daily 08/06/2016 page10)