China bankcard holders more willing to spend
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As of the end of 2010, China has issued an aggregate number of 2.415 billion bank cards, an average of 1.81 cards per capita. Throughout 2010, 25.756 billion transactions have been done on bank cards, with a transaction volume of RMB 246.76 trillion Yuan. The penetration rate of bankcard is as high is 35.1 percent.
According to recent statistics from the Ministry of Commerce, the total retail sales of consumer goods in 2010 amounted to RMB 15.45 trillion Yuan, an increase of 18.4 percent year on year, 2.9 percentage points higher than that of last year. With China's consumption market maintaining stable and rapid development, bank card, as a convenient payment tool, plays a direct and powerful role in boosting consumption.
Bankcard transaction volume grows in magnitude
Recent statistics published by the People's Bank of China shows that as of the end of 2010, the country has issued a total of 2.415 billion bank cards, an increase of 16.9 percent year on year, the growth rate being 2.2 percentage points higher than that in the same period of last year. The ratio of the aggregate amount of debit cards issued to the aggregate amount of credit cards issued is about 9.52:1, lower than the ratio at the end of 2009. The proportion of the aggregate amount of credit cards issued increased slightly. As of the end of 2010, the per capita possession of bank card in the country is 1.81. The average ownership of credit cards in Beijing and Shanghai is rather high, with 1.17 and 1.06 credit cards per capita respectively, significantly higher than the national average of 0.17 credit cards per capita. Relevant personnel with the central bank of China suggested that, with continuous improvement in bank card acceptance conditions, the issuance volume of bank cards, which are the most used non-cash payment tools by Chinese residents, would continue to grow.
Meanwhile, as of the end of 2010, 2.183 million establishments, 3.334 million POS terminals, and 271,000 ATMs have established connection to the Bankcard Inter-bank Payment System, an increase of 616,500, 925,700 and 56,100 respectively. As of the end of 2010, the ratio of the number of ATMs to the number of bank cards is 1:8,913, and that of POS terminals to bank cards is 1:724.
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