Bank of East Asia to issue first China debit card

SHANGHAI, May 14 (Reuters) - Bank of East Asia (0023.HK: Quote, Profile, Research, Stock Buzz), Hong Kong's fifth-largest lender by assets, said on Wednesday that it will begin issuing debit cards in China next Tuesday, becoming the first foreign bank to win approval for debit card services.

Several foreign banks, including HSBC Holdings Plc (0005.HK: Quote, Profile, Research, Stock Buzz) (HSBA.L: Quote, Profile, Research, Stock Buzz) and Standard Chartered (STAN.L: Quote, Profile, Research, Stock Buzz) (2888.HK: Quote, Profile, Research, Stock Buzz), have also applied for approval to issue debit cards in the world's fastest growing major economy. (Reporting by George Chen; Editing by Edmund Klamann)