Reported 7 months ago
According to FSC statistics, credit card spending in the first four months of this year reached 1.4072 trillion yuan, an annual increase of 15.18%; April's single-month spending was 359.7 billion yuan, up 24.46% from the previous year, setting new highs. The increase in spending was attributed to increased travel, shopping, and e-commerce during the Qingming Holiday in April, while the deferral of insurance payment processing for two banks from March to April also contributed to the surge in credit card spending. With 32 credit card issuing institutions, the total number of circulation cards is approximately 58.97 million, with a monthly increase of 60,000 cards; the total number of effective cards is approximately 38.12 million, with a monthly increase of 160,000 cards. The average active card rate reached 64.64%, an increase of 0.2 percentage points. FSC emphasized that as people are increasingly accustomed to using credit cards for payments and transactions, coupled with economic recovery post-pandemic and an increase in domestic and international travel, the credit card spending has been on the rise. Last year, credit card spending exceeded 4.186 trillion yuan for the first time. Whether this year's total credit card spending will set a new record is subject to economic conditions and ongoing observations.
Source: YAHOO