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The Industrial and Commercial Bank of China (ICBC), the nation's largest lender, expects Chinese spending from credit cards to rise to 140 billion to 150 billion yuan this year, up from 100 billion yuan last year, Li Weiping, head of the ICBC's credit card center, said yesterday. The company has issued 15 million credit cards, accounting for 27 percent of the Chinese market. It teamed up yesterday with Staples and American Express to launch a co-branded credit card targeting corporations.

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