Spending by card holders jump 23%
Print Edition
Transactions by Chinese bankcard holders jumped 23 percent during the weeklong Chinese New Year holiday from a year ago as consumer sentiment remained strong.
They spent 200 billion yuan (US$33 billion) through China UnionPay from January 31 to Thursday, the country’s sole bankcard transaction firm said yesterday.
Expenditure at supermarkets rose 22 percent while that at department stores jumped 27 percent during the period.
Spending at domestic restaurants remained flat from a year ago but the average size of each individual transaction fell 20 percent as consumers cut back on extravagance.
Expenses on train and long-distance bus tickets doubled from that of a year ago, and spending on air tickets grew 67 percent year on year.
The rise in bankcard transactions via UnionPay’s network in Japan, South Korea and China’s Taiwan were the highest among countries and overseas regions as they remained top tourism spots for Chinese mainland travelers, the firm said.
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