[IMGCAP(1)]

Chinese banks had issued 1.58 billion credit and debit cards as of 31 March, up 30% from 1.22 billion cards at the end of March 2007, according to a report from the People's Bank of China. Credit card issuance rose 93%, to 104.7 million cards from 54.2 million cards. Chinese banks had issued 1.5 billion debit cards, up 25% from 1.2 billion as of March 2007. Chinese credit and debit cardholders spent 824.6 trillion yuan (US$120.1 trillion or 77 trillion euros) as of the end of March, up 58% from 521.9 trillion yuan during the same period last year. The report says the China UnionPay network had 203 credit and debit card issuers as of the end of March.

Subscribe Now

Authoritative analysis and perspective for every segment of the payments industry

14-Day Free Trial

Authoritative analysis and perspective for every segment of the industry