China Construction Bank, one of the oldest and largest banking networks in China, has launched a new dual currency credit card that gives users the ability to do multiple cross-border spending.

The launch comes as wealth levels rise and Chinese consumers' tastes become more cosmopolitan. The new CCB (Asia) Octopus UnionPay Dual Currency Credit Card incorporates functions of Octopus Cards and UnionPay International and is accepted for most payment systems in Hong Kong and Mainland China.

In a statement, the firm said this move demonstrates its belief of "bringing RMB wealth management to customers' daily lives." UnionPay is one of the most popular bankard associations in China.

China Construction Bank is headquartered in Beijing and has over 14,000 branches and sub-branches in the Mainland. Its overseas branches are in Hong Kong, Singapore, Frankfurt, Johannesburg, Tokyo, Seoul, New York, Ho Chi Minh City, Sydney and Melbourne. It also has representative branches in Taipei and Moscow.