Portuguese bank Millennium BCP and UnionPay International, a subsidiary of Chinese payments system operator UnionPay, have formed a partnership, Xinhua reports.
The Chinese state-run news agency says Millennium BCP will become the first European bank to issue UnionPay payment cards. The bank also does business in Mozambique and Angola.
Chinese conglomerate Fosun International Ltd is the largest shareholder in Millennium BCP.
Fosun International believes the partnership of Millennium BCP and UnionPay International will help Chinese companies build up their payments, investment and lending business abroad, Xinhua says.
