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Shanghai Pudong Development Bank Launches Co-Branded Credit Card with IHG's Priority Club(R) Rewards

2007-07-16 09:28 1736

Cardholders will Earn Points on Purchases to Redeem at More than 3,700 IHG Hotels Worldwide

SHANGHAI, July 16 /Xinhua-PRNewswire/ -- Shanghai Pudong Development Bank Credit Card Center (SPDBCCC) and IHG (InterContinental Hotels Group) announced today the launch of the Priority Club(R) Rewards co-branded Visa credit card in China, which brings together Shanghai Pudong Development Bank Credit Card Center (SPDBCCC) and the Priority Club Rewards programme, the first and largest reward scheme in the hotel industry. The Priority Club Rewards co-branded Visa credit card is the first co-branded credit card launched by an international hotel management company and a China domestic bank.

(Logo: http://www.prnasia.com/sa/200702131431.jpg )

Mr. Kuan Tseng, CEO of Shanghai Pudong Development Bank Credit Card Center commented, "We are delighted to be the first bank in China to partner with IHG, one of the world's leading hotel companies, to launch this co-branded credit card. Via in-depth investigation, we recognize the needs of frequent travellers in China are growing. Drawing from the rich experience of Citibank's worldwide co-branded card and through our partnership with IHG, the Priority Club Rewards co-branded Visa credit card will give frequent travellers the easiest and fastest way to earn free hotel stays and access to a wide range of service options that complement their lifestyle. The card's features ensure that the diverse travel demands of customers are better satisfied and they will enjoy an outstanding card experience."

The Priority Club Rewards co-branded Visa credit card's unique benefits are characteristic of the Priority Club Rewards program's commitment towards providing the best value proposition to its members. Classic and Gold Priority Club Rewards Visa cardholders will earn points on everyday spending, double points on all spending in IHG hotels worldwide and bonus points upon activation. Members can redeem Priority Club points not only for free stays in any of IHG's 66 hotels in China and more than 3,700 hotels worldwide, but for airline rewards, store vouchers, Crowne Plaza Golf Rewards, and a variety of spa services throughout Asia-Pacific. Card members can also enjoy discounts with 40,000 special merchants of the Citigroup. The Priority Club Rewards Visa card accumulates value everyday for cardholders' holidays.

"We are pleased to continue IHG's history of innovation in China, which began 23 years ago with the opening of Holiday Inn as one of the first international hotel brands in China," said Tony South, acting chief executive, IHG Asia Pacific. "We were also the first hotel company to launch a Chinese language website, and now our legacy continues as the first global hotel company to launch a co-branded credit card in the market."

With more than 33 million members globally, which includes over 600,000 members in mainland China, Priority Club(R) Rewards, IHG's guest loyalty program, is the largest and fastest-growing program in the industry. In China, its expansion has been fast-paced with a monthly average growth of 15,000 members. IHG's portfolio of well recognised hotel brands include InterContinental(R) Hotels & Resorts, Crowne Plaza(R) Hotels & Resorts, Hotel Indigo(R), Holiday Inn(R) Hotels & Resorts, Holiday Inn Express(R), Staybridge Suites(R) and Candlewood Suites(R).

About Shanghai Pudong Development Bank

Shanghai Pudong Development Bank is a joint-stock commercial bank established on October 19, 1992 upon approval. In 1999, it was listed on the Shanghai Stock Exchange (code 600000). Currently, the Bank has a registered capital of RMB 4.355 billion. It is a much-watched and respected public company on China's stock exchanges due to excellent performance and a reputation of integrity. Over more than 10 years, adhering to a management principle of "integrity and excellence", SPDB's banking business has been growing rapidly and its operating strengths have been constantly enhanced. By September 30, 2006, total assets reached RMB 637.9 billion. Loan balance in RMB and foreign currency stood at RMB 442.8 billion. Deposit balance was RMB 565.7 billion, and after-tax profit for 2006 reached RMB 3.35 billion. The Bank has established 366 branch offices in key cities in China, and a representative office in Hong Kong. It now boasts a nationwide commercial banking service network.

SPDB has gradually developed into a good example in the Chinese banking industry. In June 2005, SPDB was awarded the Bankers' Magazine Award for IT and Business Consolidation for Asia Pacific region. In November 2005, SPDB was cited by Asia Weekly as one of the Top Chinese Listed Companies for the 6th consecutive year. In July 2005, SPDB was cited by the British Magazine Bankers as No. 251 among the Top 1000 World Banks on account of its Tier 1 capital. In August 2005, SDPB was awarded by Shanghai Amercian Chamber of Commerce the First Prize for best Corporate Social Responsibility Practice, the only local company to win the award.

About Citibank

Citibank's history in China can be traced to May 15th 1902, when it set up its first office in Shanghai, China. Today, Citibank is a leading foreign bank in China, offering the widest range of financial products to customers. Currently, Citibank has 6 companies and investment banking branches in Beijing, Shanghai, Guangzhou, Shenzhen, Tianjin and Chengdu. In addition, it has 16 retail banking outlets in Beijing, Shanghai, Guangzhou, Shenzhen, Tianjin and Chengdu, and a representative office in Xiamen. Citigroup's global network spans more than 100 countries and it is the most international foreign bank in China. For more information, please visit http://www.citigroup.com / http://www.citibank.com.cn .

About Priority Club Rewards

With more than 33 million members, Priority Club Rewards is the first, largest and fastest-growing guest loyalty program in the hotel industry. Winner of the 19th Annual Freddie Awards hotel loyalty Program of the Year for the second consecutive year and named Best Hotel Rewards Program in the World two years running by Global Traveler magazine, Priority Club Rewards offers more sought-after benefits and the greatest ease of use of any hotel loyalty program. In addition to flexible features like No Points Expiration and No Blackout Dates, Priority Club Rewards members have more options for points redemption than any other hotel loyalty program, including redemption at more than 574,000 lodging establishments worldwide -- even at rivals' hotels -- through the industry-leading "Any Hotel, Anywhere" reward. In addition to hotel nights, members can redeem their points for airline miles on more than 40 partner airlines, for auto rentals, for gift certificates and for hundreds of products available in the Rewards Catalog. And Priority Club Rewards is the only hotel loyalty program to offer members a Personal Shopper program that allows members to exchange points for items not found in the Rewards Catalog.

Enrollment in Priority Club Rewards is free. Guests can enroll by logging on at priorityclub.com, by calling 1-888-211-9874 or by inquiring at the front desk of any of IHG's 3,700 hotels worldwide.

About IHG

InterContinental Hotels Group PLC of the United Kingdom (LON: IHG; NYSE: IHG (ADRs)) is the world's largest hotel group by number of rooms. InterContinental Hotels Group owns, manages, leases or franchises, through various subsidiaries, over 3,700 hotels and 558,000 guest rooms in nearly 100 countries and territories around the world. The Group owns a portfolio of well recognised and respected hotel brands including InterContinental(R) Hotels & Resorts, Crowne Plaza(R) Hotels & Resorts, Holiday Inn(R) Hotels and Resorts, Holiday Inn Express(R), Staybridge Suites(R), Candlewood Suites(R) and Hotel Indigo(TM), and also manages the world's largest hotel loyalty programme, Priority Club(R) Rewards.

InterContinental Hotels Group offers information and online reservations for all its hotel brands at http://www.ihg.com and information for the Priority Club Rewards programme at http://www.priorityclub.com. For the latest news from InterContinental Hotels Group, visit our online Press Office at http://www.ihg.com/media .

Source: InterContinental Hotels Group
Keywords: Travel
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