A new report from the peak body for the Chinese banking sector points to robust growth in bank cards in 2019.
On 23 September the China Banking Association (CBA) released the “China Bank Card Industry Development Blue Paper (2020)” (中国银行卡产业发展蓝皮书（2020）).
According to the Blue Paper as of the end of 2019 a total of 8.53 billion bank cards had been issued, for an increase of 700 million that year, and a YoY rise of 8.9%.
The nationwide bank card transaction sum was 822.3 trillion yuan, for a YoY rise of 4.1%, while the number of transactions was 321.99 billion, for a YoY rise of 53.1%
The Blue Paper also indicates that as of the end of 2019 there were a total of 23.63 million processing vendors in China, for a YoY decline of 13.5%, while there were a total of 30.893 million point-of-service units, for a YoY decline of 9.5%.
The unpaid bank card lending balance was 7.59 trillion yuan at the end of 2019, for a YoY rise of 10.85, while the bank card fraud rate was 0.87BP, for the second consecutive year of decline.