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Spending via UnionPay hits US$4.8b
Print Edition
Chinese consumers spent 31.2 billion yuan (US$4.8 billion) via China UnionPay’s network at home and overseas during the Chinese New Year holiday, up 31 percent from a year ago, with dining and shopping making up most of the expenditure.
There were 307 million transactions made from February 7 to Saturday, a rise of 15 percent, UnionPay said yesterday.
Spending at restaurants totaled over 5 billion yuan of the overall transaction value.
Expenditure on highway transport nearly doubled from a year earlier while payment at gas stations jumped 39 percent with more road trips taken.
UnionPay didn’t give data for overseas markets but said transaction value fell in Hong Kong but overall spending rose.
The average daily transaction value from February 1 to 5 hit 270 million yuan, the highest in history, as consumers shopped in preparations for the holiday.
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