Payments via China UnionPay surge 53%
By Ding Yining |
January 3, 2014, Friday
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Print Edition
Print Edition
Payments by domestic consumers via China UnionPay’s network on New Year’s Day surged 53 percent from a year earlier to hit 100 billion yuan (US$16.5 billion) for the first time, the company said yesterday.
Consumers spent 77 percent more at jewelry stores from a year ago as the relatively low gold price fueled demand. Transactions at supermarkets and home appliance retailers also surged 52 percent and 43 percent respectively, UnionPay said.
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