China issues 7.83B bank cards in total

0 Comment(s)Print E-mail Xinhua, June 24, 2019
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A staff member (L) of China UnionPay introduces a new type of bank card with visualized information function at an exhibition in Beijing, capital of China. [File photo/Xinhua]

China had issued a total of 7.83 billion bank cards by the end of 2018, with each Chinese person owning about 0.7 credit cards and 4.92 debit cards on average, according to a industry report.

Transactions worth 789.6 trillion yuan (114.61 trillion U.S. dollars) were made through bank cards, maintaining a stable growth momentum, said the report released by the China Banking Association.

In breakdown, China issued 970 million credit cards with a transaction amount of 38.2 trillion yuan, while debit card issuance stood at 6.86 billion with a transaction amount of 751.4 trillion yuan.

In line with the continuous growth of bank card business, the card acceptance market expands rapidly, the report said.

Chinese card payment giant Unionpay's outbound services have been extended to 171 countries and regions. 

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