Bank of China and American Express will provide old-fashioned (brand new in this market), but safe and convenient travel payment modes for inbound tourists to China.
From May 10 on, tourists to China from Singapore, South Korea, Malaysia, India, the US, Canada, Japan, and the UK will be able to buy renminbi travel checks from the US company and can cash the checks at all outlets of the dual-listed lender in China and thousands of cooperating hotels.
Trading Markets reports the US company introduced travel check to China in 1982. At the same time, the Chinese lender started selling and cashing travel checks. Now, along with the release of the renminbi travel check, the type of travel checks sold by the US company grows to seven, including checks in the US dollar, EUR, Canadian Dollar, AUD, Japanese Yen, the UK pound and renminbi.