According to our research report “China Credit Card Market Outlook to 2014”, credit card market has been one of the fastest growing markets in the region for the past few years driven by robust economic growth, rising income levels, growing middle class population, and most importantly government’s initiatives to allow issuance of credit cards to increase the level of consumer credit in the country. Moreover, it is expected that the Chinese credit card market will reach 630 Million by 2014, growing at a CAGR of around 31% during 2011-2014.
Ongoing research found that, the strong growth in credit card issuance has been marked by a big push from the domestic banks, such as Industrial and Commercial Bank of China, Bank of China, China Construction Bank, China Merchants Bank, and Bank of Communications to gain a leading position in the credit card market. They have been considerably spending on infrastructure and marketing.
The report outlines that, the increasing usage of Internet media (particularly for online shopping) has emerged as one of the recent trends propelling growth in the usage of credit cards across the country. Besides, the country continues to experience rapid improvement in the credit card infrastructure, with more and more retailers or merchants now accepting credit card payments at their point-of-sale terminals.
Besides, the report analyzes factors critical to the success of the Chinese credit card industry. It has also identified key players in the market and included their detail business description. Additionally, the report sheds light on the emerging industry trends, which are expected to decide the future of the Chinese credit card industry.
“China Credit Card Market Outlook to 2014” provides future forecast on the industry based on the correlation of past drivers, challenges, and opportunities for expansion. In this way, the report presents a complete and coherent analysis of the Chinese credit card industry, which will prove influential for clients. Detail data and analysis will help investors, financial service providers, and banks to navigate through the latest trends in the Chinese credit card market.