Bankcard owners spend more in July, survey shows

By Ding Yining | August 11, 2014, Monday |

Online Edition

CHINA'S bankcard owners' confidence climbed for the second month in July, due to an increase in leisure and travel-related spending and sales campaigns during the summer holiday.

The Bankcard Consumer Confidence Index was up 0.06 from a month ago to 85.33 points after expenditure grew, China UnionPay, the country's sole bankcard transaction firm, said in a report over the weekend.

The transaction value at hotels and airline ticket offices climbed 13 percent and 34.3 percent respectively, UnionPay said, as summer holiday is usually a peak season for travelling.

Card holders' transaction size at domestic travel agencies and major scenic spots also surged 59 percent and 62 percent, respectively. Transactions at home appliances retailers rose 4.2 percent from a month ago.

Higher gas price also pushed up transaction value at gasoline stations, which rose 9 percent from ago.

The climbing Purchasing Managers' Index in July and a series of financial stimulus measures will continue to push up consumer sentiment, UnionPay pointed out.

Finance

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Bankcard owners spend more in July, survey shows

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