With significantly low penetration and large potential in rural areas, China offers huge scope for developments in the credit card market.
Online PR News – 10-June-2010 – – According to our research report "China Credit Card Market Outlook to 2013", credit card market in China has shown exponential growth in the past few years. The number of credit cards in circulation has doubled over the period of last two years (2007-2009). However, given large population base, the market remains largely untapped. Moreover, the market is majorly concentrated in tier-I and tier-II cities. The tier-III cities and rural areas are still highly untapped. This is quite evident from the fact that at the end of June 2008, nearly 80% of credit card market (in volume) was occupied by tier-I and tier-II cities. Thus, China offers a strong growth space for credit card companies in geographical areas other than the main cities, particularly in rural areas.
The country considers development of a low-cost, non-cash payment network, like credit and debit cards, in rural areas critical to increase rural spending and fill the wealth gap between rural and urban areas.
The report provides the core credit card statistics along with the information on important payment card facilitators like ATMs and POS terminals installed in the country. Moreover, the emerging market trends and developments like emergence of EMV-compliant cards, consumer shift towards e-shopping, etc. are thoroughly discussed in the report.
In addition to this, the report keys out the key players and their market share in the Chinese credit card market to give clients a better insight of the market. It also analyzes various initiatives taken by the Chinese government to promote the usage of credit cards.
"China Credit Card Market Outlook to 2013" also features future outlook of the credit market in China, considering both positive and negative impacts of reasonable and accountable factors on the market, which will really prove decisive for the new entrants. In this way, our report presents an unbiased picture of the market.
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