China CITIC Bank launches visa application services

China CITIC Bank Corp Ltd announced on Tuesday the launch of a service to help its debit and credit cardholders with visa application to visit more than 70 countries.

The embassies of eight of the 70 countries, namely the United States, the United Kingdom, Italy, Brazil, South Africa, Singapore, New Zealand and Israel, have authorized China CITIC Bank as the sole financial institution in the country to provide visa application fees payment and drop-off visa services. Within 15 working days, the bank can help its clients receive a visa that is valid for two to 10 years after they submitted application documents as required.

"Our bank provides seven types of overseas financial services targeting students, businessmen, tourists and immigrants abroad, including cross-border settlement, foreign exchange related services, bank references and global asset allocation," said Guo Danghuai, vice-president of China CITIC Bank.

It also launched a program to help realize millions of dreams of going abroad, together with UnionPay International Co Ltd, China Eastern Airlines Corp Ltd and Brand USA - the destination marketing organization for the US aiming to increase international visitation. The program will award a total of 20 China CITIC Bank cardholders with an eight-day free trip to the US.

"In 2014, 2.2 million Chinese tourists visited the United States, which was a staggering 21 percent increase over 2013. Industry forecasts expected the number of Chinese tourists traveling to the US will maintain a 20 percent annual growth through 2020. By 2018, China will become the third largest international market for visitors to the US," said Bradley Parker, economic/political section chief of the US Consulate General Guangzhou.

According to a report published by the United Nations World Tourism Organization in May, China continues to globally lead the number of outbound travelers after double-digit growth in tourism expenditure every year since 2004. Spending by Chinese travelers increased 25 percent in 2015 to reach $292 billion, as total outbound travelers rose 10 percent to 128 million.