Great Wall credit card

Concurrent with national reforms and a general opening to the outside world, China’s cash economy underwent substantial diversification. For instance: Large transactions and substantial sums of cash began to be exchanged between a wide range of enterprises; individuals were required to carry sometimes excessive sums of cash as they traveled greater distances from home; and self-employed business owners handled and held increasing amounts of cash. To reduce the “external cycle” of cash, to better control issuance, and to provide greater convenience for consumers, shoppers and travelers, on February 1, 1987 the Bank of China Beijing Branch issued the “Renminbi Great Wall Credit Card” – the first of its kind in China.