China had turned to plastic – and consumer debt – as never before, with its citizens for the first time carrying at least one bank card on average, according to new figures from the central bank.
The 30 percent rise in debit and credit cards to a total of 1.47 billion over the past year tops the country’s population of more than 1.3 billion.
Almost 21 percent of purchases last year were made with bank cards, the bank said. – Reuters
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