The number of cumulative credit cards issued is only 0.41 billion, which means there is a huge market opportunity.
According to the report, every Chinese citizen holds 2.93 debit cards on average, while credit card volume is only one per three citizens. The gap has left a significant development space for credit cards market. In addition, credit has penetrated consumers’ habits gradually in recent years. People start to utilize credit cards to do online shopping, daily shopping etc. With this in mind, we estimate that China's credit card market will keep its dramatic growth in the coming future.