Chinese Credit Card Industry has undergone a revolutionary change, indicating explosive growth over the past few years. Increase in young population, technological awareness, incessant services, offers, emerging trend of e-commerce and all are changing the facet of the society and bringing huge popularity of credit cards in China. En-route to this new wave of development, the country is poised to become the biggest online marketplace in the world with traditional mode of shopping turning to online shopping. Therefore, considering all these factors, it is anticipated that the number of credit cards in China will grow at a CAGR of 24% during 2012-2015.
Further, according to our research report, “China Credit Card Market Forecast to 2015”, the country is promoting non-cash payment alternatives like credit cards including overdrafts to increase the domestic consumption. Banks are also promoting credit cards to augment revenue. In addition, the government is playing a vital role in the growth of the industry by issuing liberal policies. Recently, the government through a new regulation has allowed the foreign credit card companies to issue their credit cards in the country. By this regulation, these foreign players can issue their sole branded credit cards that are denominated in the domestic currency. This will bring a paradigm shift in the China Credit Card Industry and will support the foreign players in their expansions.
Further, our report, “China Credit Card Market Forecast to 2015”, includes an in-depth research and rational analysis of the credit card market potentials in China. It also reveals information like number of credit cards in the country, credit card transaction during a period of time, and credit card spending in different segments. The report also provides information on emerging trends, drivers, and regulatory initiatives, which are collectively elevating the outlook for the industry in the country. An insight into consumer behavior towards credit card usage has also been presented in the study. Elaborate profiles on prominent industry players in the field along with their financial performance in order to provide a balanced research outlook of the market has been covered. The comprehensive research also aims at presenting a complete and coherent analysis of the China Credit Card market scenario to clients.
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