The Industrial and Commercial Bank of China (ICBC) has launched its first US credit card to serve a growing number of Chinese travellers who frequent the US.  

ICBC, in partnership with China’s UnionPay, will be the first Chinese commercial bank to foray into the competitive US credit card market, UnionPay says in a statement.  

ICBC is issuing two types of cards including a Premium Card that caters to VIP clients. ICBC's Preferred cards waive annual fees.

Over 2 million Chinese have moved to the US in the last three years, according to the US Census Bureau.

“2016 is the China-US Traveling year”, says UnionPay CEO Cai Jianbo. He expects increased travels between the US and China going forward.

UnionPay has 5,400 cards in use overseas. In the US, most ATM machines and over 80% of merchants support UnionPay transactions.