Spring Festival holiday fuels bank card transactions

BEIJING -- China saw rapid growth in cross-bank card transactions during the Spring Festival holiday, statistics from national bank card network operator China UnionPay showed Saturday, February 16.

The total value of domestic cross-bank card transactions rose 43 percent year-on-year during the holiday, which lasted from February 9 to 15, while overseas card transactions gained 33 percent during the period, China UnionPay said in on online statement.

Card payments in shopping malls and supermarkets continued to show robust growth, up 44 percent and 34 percent, respectively, but transactions in restaurants grew only 17 percent from a year earlier.

Card transactions in jewelry shops experienced a boom during the period, surging 119 percent year-on-year due to Valentine's Day, the statement said.

Marked transaction growth was also recorded in tourism-related businesses, including ticket purchases at tourist attractions and spending in hotels.

In major overseas tourist destinations such as Cambodia, Thailand, the Republic of Korea, Taiwan, Malaysia, Singapore, Italy and the United Arab Emirates, UnionPay card transactions grew by over 40 percent during the holiday.

China UnionPay is solely responsible for bank card transactions on the Chinese mainland and has extended its network to 141 countries and regions.