Credit Cards Online Information

Chinese banks have issued over 140 million credit cards since its first credit card in 1985

Research and Markets (http://www.researchandmarkets.com) has announced the addition of Credit Cards In China: A Market Analysis to their offering.

This newly updated report studies the growing market for credit and debit cards in China. Not only does it consider the new developments in the banking and finance industry as they relate to credit cards, but also maps the latest developments in tie-ups between international card brands and the Chinese banks. The report also analyses the growing use of credit cards, and how this is affecting the retail and Internet market in China, both B2B and B2C.

Market Definitions

2001 is seeing a major push by the foreign banks to establish and extend their operations in China before WTO. Similarly, local banks are attempting to modernise and extend their operations in order to better compete in the new regulatory climate.

China launched its first credit card in 1985. The issuer was the Bank of China and the card was called the Great Wall Card. The Great Wall Card became a member of Visa in 1987 and began issuing the first international credit cards in China in 1988.

This report covers the emerging market in China for credit cards. There is some reference to the new store cards and IC cards, though the main focus is bank-issued credit and debit cards and the activities of the international payment settlement companies such as Visa and MasterCard.

Key Facts of the Report:-

According to the People's Bank of China's statistics, since the Bank of China issued its the first credit card in 1985, Chinese banks have issued over 140 million cards.

- The number of cards issued by the banks has increased by 64% each year. The total sum of transactions has increased by 76% per year, and the number of retailers who accept the cards has grown by 51% per year.

- The number of card-issuing banks has increased from the initial four state-owned commercial banks to over 20 banks. Meanwhile, the percentage of retail purchases using bankcards also has been on the rise. Last year, it grew to nearly 10% of all retail sales revenue