Spending bonanza
By Ding Yining |
January 30, 2012, Monday
|
Print Edition
Print Edition
CHINESE bankcard holders went on a domestic spending spree during the week-long Spring Festival holiday, splashing out 32 percent more from the same period a year ago, according to China UnionPay data yesterday.
They also increased their spending overseas by 39 percent annually during the seven-day period, UnionPay said, without giving specific data. China UnionPay's cards can now be used at outlets in 125 countries and regions.
Higher domestic consumption on transport, department stores and restaurants helped propel bankcard transactions to 102.9 billion yuan (US$16.3 billion) from January 22 to Saturday, UnionPay said.
UnionPay disclosed that consumers had already started spending a week ahead of the Lunar New Year holiday, which began on January 23, because spending jumped 40 percent annually to 476.8 billion yuan.
Spending at department stores, retail outlets and restaurants rose 33 percent, 39 percent and 16 percent respectively.
They also increased their spending overseas by 39 percent annually during the seven-day period, UnionPay said, without giving specific data. China UnionPay's cards can now be used at outlets in 125 countries and regions.
Higher domestic consumption on transport, department stores and restaurants helped propel bankcard transactions to 102.9 billion yuan (US$16.3 billion) from January 22 to Saturday, UnionPay said.
UnionPay disclosed that consumers had already started spending a week ahead of the Lunar New Year holiday, which began on January 23, because spending jumped 40 percent annually to 476.8 billion yuan.
Spending at department stores, retail outlets and restaurants rose 33 percent, 39 percent and 16 percent respectively.
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