Business
16:53, 23-Jun-2018
China has issued per capita five bank cards
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By the end of 2017, China had issued 7.03 billion bank cards, meaning each Chinese national has about 5 cards on average, according to a new industry report.
The total number was up 10.3 percent from a year earlier, said the report released by the China Banking Association.
Last year, the number of transactions via bank cards rose 29.4 percent to 149 billion, with a total of 735 trillion yuan (about 113 trillion US dollars) was swiped from bank cards.
"Consumption via bank cards accounted for 48.7 percent in China's total retail sales of consumer goods, rising for a fourth year, giving a strong boost to consumption growth and upgrades," said Huang Runzhong, secretary-general of the association.
Meanwhile, the ratio of live debit cards reversed the downward trend for two years to 66.2 percent in 2017.
That ratio of live credit cards rose to 73.1 percent last year, showing higher quality of the bank card industry, the report said.
Source(s): Xinhua News Agency