Octopus Cards Ltd and Shenzhentong Co Ltd on Monday announced the launch of their co-named card that combines a Hong Kong dollar e-purse and a yuan e-purse. The two-in-one smartcard allows its holder greater convenience in intercity commuting and spending.

The introduction of the "Hu Tong Xing" card, marks another important milestone in the infrastructural and economic integration between Hong Kong and Shenzhen, KC Chan, secretary for financial services and the treasury of the HKSAR government, said at the launch ceremony in Hong Kong.

"The card, which contains e-purses of Hong Kong dollar and yuan, will provide greater convenience for those who travel frequently between Hong Kong and Shenzhen," said Chan, "especially in (the) use of public transportation and spending in retail stores."

Chan stressed that the card would facilitate cross-border consumptions of both Hong Kong and Shenzhen citizens.

Octopus Cards CEO Sunny Cheung said that the commemorative limited edition of "Hu Tong Xing" will be available for public sale on Tuesday (September 4) and the Sold Adult version of the card (each priced at a non-refundable charge of HK$98) will be on sale from September 11 in Hong Kong.

Cheung said the card's demand should be great, as currently there are tens of thousands people who travel between Hong Kong and Shenzhen everyday. He also said that if the market reaction (for the card) is positive, the company will consider launching a version for children and another for the elderly.

But Cheung pointed out that currently, the Hong Kong dollar e-purse and a yuan e-purse in "Hu Tong Xing" are independent of each other, and due to foreign currency controls and technical reasons, the card users would have to top up their yuan e-purse in Shenzhen and Hong Kong dollar e-purse in Hong Kong.

Octopus launched a co-named card with Lingnan Tong in July, which has sold about 10,000 sets, said Cheung. The two-in-one card covers the e-payment networks offered by the two companies in Hong Kong and Guangdong province.

sophiehe@chinadailyhk.com

(HK Edition 09/04/2012 page2)