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China issued 3.4 bln bank cards in Q3

Nov. 27, 2012 (China Knowledge) - China saw the issue of bank cards surge 21.2% YoY to 3.4 billion in the third quarter of this year, according to the latest report released by People's Bank of China.

The growth rate for the three-month period was 3.3 percentage points higher than in the corresponding period of 2011.

Of the total cards, 3.08 billion were debit cards, reflecting a YoY increase 21.4% or a 5.5% growth than in the second quarter of this year.

While the issue of credit card totaled 318 million, up 18.8% than a year earlier and the growth rate decreased 1.5 percentage points than at the corresponding period of 2011.

By the end of Sep 2012, the total amount of credit cards’ limit grew 36.3% YoY to RMB 3.33 trillion.

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