According to China’s financial media outlet Yicai, the People’s Bank of China released its “2024 Payment System Operation Overview” on February 17. The data shows that by the end of 2024, the number of active credit cards and debit-credit combo cards in circulation had dropped to 727 million, a decrease of about 40 million compared to the end of 2023, marking a 5% decline. Credit card issuance has now fallen for nine consecutive quarters. Compared to the fourth quarter of 2022, when the number of credit cards in circulation reached 807 million, there has been a total decline of 80 million. This means that for every 10 people in China, one has given up using a credit card.
Join this channel to get access to perks:
https://www.youtube.com/channel/UCT2kPBcD6tXn8TP_aV7BmgA/join
#chinaobserver
All rights reserved.
⭐You can support us at: https://donorbox.org/china-observer-supporting-independent-news
⭐For business cooperation, please contact us: business@chinaobserver.co