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American Express Taps into China's Credit Card Market.
(From SinoCast China Business Daily News)
BEIJING, April 01, SinoCast -- American Express, one of the largest credit card business companies in the world, signed a cooperation agreement with the Industrial and Commercial Bank of China (ICBC) in Beijing on March 30.
ICBC will launch the first credit card marked with the logo of American Express in China. The new card is called Peony Express, which is derived from ICBC's existing Peony Card, a popular debit card launched by the bank in 1989.
Cardholders of Peony Express will be able to use them at companies …
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