BEIJING, March 30 (Xinhua) -- A Chinese bank has come under fire after it issued a new credit card with a maximum overdraft of three million yuan (375,000 U.S. dollars), catering for "upper rank financial customers" including ministerial and high-level government officials.

    "How could the high ranking officials who earn thousands of yuan a month afford a three million yuan overdraft?" a commentator named Guang Yi was quoted as saying by Thursday's China Youth Daily.

    According to media reports, the Beijing-based China Minsheng Bank released earlier this month a new kind of credit card, the "diamond card," with an exorbitant slogan of "once acquired, life-long dignity and honour guaranteed." The bank does not accept applications for the card, but only invites privileged clients.

    The bank reportedly categorizes the targeted customers into four groups: entrepreneurs with considerable assets, social celebrities, upper rank management personnel and high-level staff of state-controlled enterprises, or ministerial and high-level government officials.

    "Any profit-driven entity wants money," Guang Yi wrote. "The bank must earn money by taking high ranking officials as potential clients."

    Guang suggested that the bank might believe that for some senior officials who can "grab several million yuan easily through corruption," it is nothing hard to pay back a 3-million-yuan overdraft.

    "We never said that a ministerial-level official is naturally entitled to get such a credit card," argued Chen Dapeng, director of the Minsheng Bank's card center. "We set comprehensive credit ratings for our clients, taking elements such as client's income, work risks, reputation and past credibility into consideration."

    "The media reports are partial and unfair," Chen said. Enditem