Holiday boosts bankcard owners' confidence

By Ding Yining | February 14, 2014, Friday |

Online Edition

CHINA’S bankcard owners' confidence rose for the first time in three months in January, pushed up by strong sentiment ahead of the Spring Festival.

The Bankcard Consumer Confidence Index rose 0.45 from a month ago to 85.88 points due to higher demand for dining, China UnionPay, the country's sole bankcard transaction firm, said in a report today.

Consumers' spending value at restaurants and liquor and alcohol vendors grew 8.0 percent and 30.5 percent respectively as the weeks before lunar New Year were a traditional peak period for gatherings of family members and friends.

Department stores' transaction size also grew 4.4 percent from that of December due to pre-holiday shopping sprees.

However, consumer sentiment is expected to remain rather weak after the lunar New Year holiday with the macroeconomic situation remaining flat in the near future, UnionPay pointed out.

Business Consumer

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Holiday boosts bankcard owners' confidence

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