Cards fuel spending
By Zhang Fengming |
May 4, 2011, Wednesday
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Print Edition
Print Edition
BANKCARD holders in China spent 107 billion yuan (US$16.5 billion) onshore during the May Day holiday, up 51 percent from a year ago, China UnionPay Co said yesterday.
Chinese consumers are spending more frequently with their bankcards.
Their overseas expenditure rose 55 percent year on year, said UnionPay, China's sole bankcard transaction switcher. Consumers spent the most on entertainment, restaurants, supermarkets and department stores during the three-day holiday.
Chinese consumers are spending more frequently with their bankcards.
Their overseas expenditure rose 55 percent year on year, said UnionPay, China's sole bankcard transaction switcher. Consumers spent the most on entertainment, restaurants, supermarkets and department stores during the three-day holiday.
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