Under the terms of this agreement, Bank of China will issue the Bank of China Private Bank American Express Card - Bank of China's first credit card designed for its private banking customers.

The new card offers VIP banking services, access to premium golf courses, fast-track service through immigration and security at select airports and unlimited access to lounges in major airports around the world. Cardmembers can also enjoy special benefits and privileges across an array of hotels through the American Express Entre program, as well as offers from merchants around the world through American Express Selects. In addition, the card provides access to a 24-hour concierge service, comprehensive overseas relocation services and healthcare and wellness services provided by Raffles Medical Group. The card also provides dual currency functionality, with two accounts in RMB and U.S. dollars, respectively.

"American Express is a leading global brand that is recognized for providing premium services to affluent customers around the world. The launch of this new card marks the first milestone of our long-term partnership, and we look forward to offering our private banking customers exclusive privileges and benefits that they can enjoy both in China and when travelling abroad," said Xiangqun Zhong, General Manager, Credit Card Center, Bank of China.

"China is a key growth market for American Express, and we are delighted to partner with Bank of China to offer the first American Express-branded credit card that targets the fast-growing, private banking customer segment in China. The launch of the Bank of China Private Bank American Express Card represents an important opportunity to further expand the reach of our brand and offer world-class benefits and services to the growing number of affluent consumers in China," said Dave Keung, Vice President and Group General Manager, American Express Global Network and Merchant Services, American Express.