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Holiday bankcard spending rises nearly 30%
By Ding Yining |
May 2, 2012, Wednesday
|
Online Edition
Online Edition
SPENDING by Chinese bankcard holders climbed nearly 30 percent during the three-day Labor Day holiday with retail and travel-related expenditures surging nearly 70 percent.
Total bankcard spending from April 29 to May 1 amounted to 145 billion yuan (US$23 billion), according to a report released today by China UnionPay, the country's sole bankcard transaction firm.
Spending at domestic retailers jumped 29 percent while overseas billings rose 28 percent.
Expenses at travel agents jumped 68 percent and entrance fees at major scenic spots added 47 percent, the report said.
The average amount of billings at retail outlets rose 27 percent from the comparable period last year, and spending at restaurants and department stores rose 14 and 12 percent respectively.
Total bankcard spending from April 29 to May 1 amounted to 145 billion yuan (US$23 billion), according to a report released today by China UnionPay, the country's sole bankcard transaction firm.
Spending at domestic retailers jumped 29 percent while overseas billings rose 28 percent.
Expenses at travel agents jumped 68 percent and entrance fees at major scenic spots added 47 percent, the report said.
The average amount of billings at retail outlets rose 27 percent from the comparable period last year, and spending at restaurants and department stores rose 14 and 12 percent respectively.
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