China Guangfa Bank issues credit cards for middle-aged, elderly

China Guangfa Bank, one of the country's leading commercial banking service providers, issued special credit cards for the middle-aged and elderly on Tuesday in Guangzhou, the capital of Guangdong province.

The credit card specially designed for those over 50 will include financing, payment, value-added services, as well as favorable shopping services, according to the bank.

"Issuing the card for the middle-aged and old is part of the bank's strategic plans to implement the country's inclusive financing guideline," said Zhang Fengming, executive director and vice-president of China Guangfa Bank.

China introduced a guideline to push forward development of inclusive financing from 2016 to 2020 early this year.

"People over 50 years old are our special targeting," Zhang said.

According to Zhang, the Guangzhou-based bank has organized a professional team, with workers over 50, to provide financing services for the middle-aged and elderly.

"We will offer various flexible financing solutions for them," Zhang said.

According to a report by the United Nations, China's population of over 50 years old accounted for 36 percent of its total by the end of 2015.