American Express has introduced its first Yuan prepaid travel product – the Yuan Travelers Cheque for international travelers visiting China.

In a new strategic partnership, the Bank of China will become the sole encashment bank for this product within China.

Beginning May 10, 2010, travelers to China from Canada, India, Japan Korea, Malaysia, Singapore, the UK and USA will be able to purchase American Express Chinese Yuan Travelers Cheques in their home markets. The American Express Chinese Yuan Travelers Cheques can be encashed at more than 2,000 Bank of China branches and 1,600 partner hotels in China.

American Express Travelers Cheques were introduced in China in 1982, the same year Bank of China began selling and encashing Travelers Cheques. With the introduction of Chinese Yuan Travelers Cheques, American Express Travelers Cheques are now available in 7 currencies including US dollar, Euro, Canadian dollar, Australia dollar, Japanese Yen, UK Pound Sterling and Chinese Renminbi.