China Internet Marketing Trends, Statistics & Insights
With the twin forces of the tough situation in retail industry and existing card charges, businesses’ profits are being battered.
According to the research from CCFA, the proportion of credit card purchasing is increasing with the year-on-year growth of 30%. The domestic card spending has surpassed 16 trillion yuan (USD2.56 billion), accounting for 40% of total retail sales of consumer goods.
China Banking Association recently released a study “Chinese Credit Card Industry Development Blue Book 2009-2011″ showing that total credit card transactions in 2011 totaled 7.56 trillion yuan (about USD 1.2 trillion). [Read more...]
The number of credit cards issued by Chinese banks could quadruple to 800 million or more by 2020, up from 200 million today. [Read more...]
From 2004 through 2009, credit card adoption in China has been growing an average of 40% annually, says Euromonitor International. [Read more...]
