www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

USEUROPEAFRICAASIA 中文雙語Fran?ais
Business
Home / Business / Finance

Paying on the 'never-never' skyrockets

By Wu Yiyao in Shanghai | China Daily | Updated: 2013-03-18 05:42

Paying on the 'never-never' skyrockets

The UnionPay logo on bank cards. China has experienced a boom in the use of bank cards over the past two years, especially credit cards. By the end of 2012, banks in China had issued a total of 3.5 billion bank cards, according to statistics from the People's Bank of China. Some 44.4 percent of Chinese residents who have bank accounts own one or more bank cards, according to the data. [Photo/China Daily]

Cards to the fore in nation as they take over from cash payments

Wang Haofeng was less than pleased at being charged a 30 yuan ($4.82) service fee for using his credit card fewer than six times in a year.

"I had totally forgotten about this credit card because I have another five in my wallet," said the 29-year-old hair stylist in Shanghai.

Wang is just one of the Shanghai residents who spent a total of more than 311 billion yuan in 2012, representing a 43 percent year-on-year increase. About 265 billion yuan of transactions were carried out using credit cards, according to statistics from Shanghai Banking Association.

Bank cards in China have been experiencing a boom in use over the past two years, especially credit cards. Banks in China had issued a total of 331 million credit cards by the end of 2012, exceeding the number of debit cards, according to statistics from the People's Bank of China. The figure represented a rise of 16 percent year-on-year. On average, one in four Chinese people have credit cards, a 19 percent year-on-year growth. In Beijing and Shanghai, residents have more than one credit card on average.

By the end of 2012, banks in China had issued a total of 3.5 billion bank cards, according to statistics from the People's Bank of China. Some 44.4 percent of Chinese residents who have bank accounts own one or more bank cards, the data said.

Paying on the 'never-never' skyrockets

The number of transactions carried out increased by 46 percent year-on-year in 2012 and withdrawals from automatic telling machines rose 26 percent, according to statistics from China UnionPay.

"The trend is that an increasing number of consumers prefer swiping cards to dealing in cash," said Qin Zhong, the manager of a restaurant in Ningbo, Zhejiang province.

"Some customers do not carry much cash and are happy to pay without hesitation by swiping their card even if they are just buying a cup of tea for 10 yuan," said Qin.

On average, the value of transactions carried out using bank cards in China was 5,894 yuan for every person, up 6.6 percent over the year. The average value of each transaction was 2,312 yuan, down 2.6 percent, according to statistics from the People's Bank of China.

The increasing number of transactions using bank cards is a result of the rising purchasing power of China's residents, the expansion of e-commerce channels and the shifting of social conventions, analysts said.

In the past people regarded using credit cards as the shouldering of debt that would eventually become a great burden but now, with the widespread usage of payment by installments, personal loans and measures to help people make financial plans and purchase wisely, bank cards are playing more significant roles than ever, said Liu Chenxi, a wealth manager with China Construction Bank.

"People need to have a clear plan for their consumption, deposits and credits before they swipe cards. We recommend thinking carefully about applying for a new bank. Being lured simply by a gift from a bank is not reason enough," said Chang Ying, a senior consultant with Shanghai Fuding Consultancy Co Ltd.

People who spend more than they can afford to pay back cause problems for the entire industry, said analysts, pointing to the surge in credit card debt in recent years.

By the end of the fourth quarter of 2012, the total value of overdue credit with an outstanding term of more than six months in the credit card business was 14.66 billion yuan, a 1.6 percent quarter-to-quarter increase, according to statistics from the People's Bank of China.

"In fact the credit card business is not profitable for many banks in China," said a source with a company in Changsha whose major business is as an agent issuing bank cards.

The source said in recent years checks and verification of card applicants' ability to pay bills on time has not been sufficiently strict with some banks lowering the bar for applicants in order to issue as many cards as possible to gain more market share.

In the longer term, banks will raise the bar for applicants, take good control of risks and design creative card products to cater for market needs because the credit card business is one of the fastest growing sectors of private banking in China and will continue to grow, according to Huo Xiaohua, an analyst with CIConsulting, a Shenzhen-based industry research institution.

wuyiyao@chinadaily.com.cn

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 亚洲九九夜夜 | 综合久久影院 | 狠狠色噜噜狠狠狠米奇9999 | 在线精品视频免费观看 | 国产自产v一区二区三区c | 国产在线欧美日韩一区二区 | 午夜性刺激免费视频观看不卡专区 | 久久精品免费播放 | 香蕉一区二区三区观 | 欧美高清色视频在线播放 | 美女视频一区二区三区 | 欧美丝袜xxxxx在线播放 | 三级网站国产 | 欧美成人精品第一区 | 理论片中文字幕 | 免费一级大毛片a一观看不卡 | 精品一区二区三区视频在线观看 | 国产精品久久免费 | 美女张开双腿让男人桶视频免费 | 国产不卡影院 | 黄色福利站 | 俄罗斯美女在线观看一区 | 免费国产综合视频在线看 | 国产亚洲欧美一区二区 | 日韩a毛片免费全部播放完整 | a级毛片在线看日本 | 久久精品视频在线观看榴莲视频 | 欧美在线一区二区三区精品 | 久久国产一区二区三区 | 网红主播大尺度精品福利视频 | 免费高清国产 | 欧美不卡一区二区三区 | 久久99精品一级毛片 | 国产亚洲精品网站 | 亚洲品质自拍 | 一区二区三区在线免费看 | 国产成人精品三级在线 | 久久久久综合国产 | 中文字幕在线观看一区二区 | 久久99亚洲精品久久99 | 正在播放国产精品放孕妇 |