On Aug. 21, we announced the issuance of Citi's sole-branded credit card in China, becoming the first global bank in China to do so. Citi is the largest credit card issuer in the world and we expect China to be the world's largest credit card market by the end of the decade. We were the first foreign bank to enter the retail banking market in China in 2002, and Citi is deeply committed to China. With the Citi credit card, we are now in a better position to provide our customers in China a full suite of products and services to meet their spending needs and help with their financial planning.
The new set of Citi sole-branded credit cards has five cards and includes two categories - Premier Miles and Rewards - that cater to consumers' different spending needs and spending preferences. The cards offer a wide range of benefits designed to meet the choices of customers. Premier Miles Card is targeted at the affluent segment of frequent business travelers. The new Citi credit cards also provide a number of important safeguards to give customers 24-hour assistance and protection, including purchase protection, roadside assistance, home protection and home assistance, as well as travel accident insurance and travel inconvenience protection. For additional information on the benefits of the new Citi sole-branded Premier Miles and Rewards cards, click here.
The launch of our sole-branded cards business in China marks a significant development in our growing presence in China, and we are honored to be the first global bank to issue credit cards in China. We are delighted to be once again breaking new ground in what is one of our most important markets globally.