Bank of East Asia Ltd. in Hong Kong said Tuesday that it will roll out a yuan-denominated credit card next week, to become the first overseas lender to issue yuan credit cards since Beijing agreed to let locally incorporated foreign banks offer the service in 2007.
Bank of East Asia became the first overseas lender to issue yuan debit cards in China in May.
The number of credit cards in China jumped to more than 40 million last year from fewer than 3 million in 2003, according to the consulting firm McKinsey & Co.
