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The Chinese credit card market continues to grow, as Analysys International expects 145.53 million cards to be in circulation by the end of 2008, according to a report by the Beijing-based research company. The report says 45 million Chinese citizens will have at least one credit card by the end of the year. Most Chinese citizens have two or more credit cards, the report says. At the end of 2007, issuers had put 99.8 million credit cards in circulation, up 70% from 58.8 million in 2006, the report says. The number of credit cardholders in 2007 was 31.8 million, up 54% from 20.6 million in 2006, the report says. Olympic-themed credit cards are popular this year, the report says. Almost half (48.6%) of Chinese credit cardholders plan to apply for an Olympic-themed card. The Beijing 2008 Summer Olympics begin 8 Aug. "The credit card market in China will grow quickly this year, and card issuers will continue to fight for numbers," an Analysys spokesperson tells CardLine Global. "Currently, a low rate of active cards and a large number of [inactive] cards are major problems in the market."

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