Hi Questioner and Researchers,
This information is available for $1200, in a report:
"Credit Cards and Debit Cards in China: A Market Analysis"
http://www.the-infoshop.com/study/ae6798_credit_card_china.html
Table of Contents
http://www.the-infoshop.com/study/ae6798_credit_card_china_toc.html
Sample from the report:
ICBC issued 135,000 international cards in 2000, a major growth
over the 35,000 issued in 1999. ICBC now controls 60% of China’s
international cards market. The company’s major brands are Peony
and Mudan. For a US$ 2,000 deposit ICBC issues the Peony Visa
international credit card through the bank’s Shanghai branch. The
Peony Visa International offers credit to RMB 50,000 for domestic
purchases and US$ 5,000 for hard-currency transactions.
In late 1999, the Industrial and Commercial Bank of China (ICBC),
launched new multifunction credit cards which can be used for
medical services and insurance indemnities. ICBC launched the cards
in Tianjin, where cardholders can receive medical services at 25
district hospitals in addition to a RMB 10,000 (US$ 1,208) injury
insurance indemnity from China Pacific Insurance. Annual cards fees
are RMB 100.
In 2000, ICBC began issuing a new credit card in association with
Beijing University Founder Group Corporation and MasterCard
International. The card allows holders purchase Founder’s computer
products (Founder is China’s largest PC manufacturer and a software
manufacturer too) at reduced prices and in instalments. Additionally
the ICBC in Shanghai has begun issuing a co-branded Peony credit card
with Sino-French AXA-Minmetals Assurance. The card has a credit
ceiling of RMB 50,000 (US$ 602.4) and combines credit with life
insurance.
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Some info found via Google searching
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The use of credit cards is not widespread in China due to a lack of
consumer history records, government concerns with overspending and
unfamiliarity by consumers. Most cards referred to as credit cards
are, in fact, debit cards that can often only be used in the city in
which they are issued. By the end of 1998, there were 33 million
credit cards in circulation in China and by mid-1999, about 70 000
Chinese merchants accepted credit cards. In June 1999, there were 140
million bank card users, over 36 000 point-of-sale (POS) systems in
place and at least 27 000 commercial entities accepting bank cards —
transaction volume totalled $296 million.
The credit card market is dominated by the large state-owned banks,
including the Bank of China (15 million Great Wall cards), the
Industrial and Commercial Bank (Peony), Agricultural Bank (Golden
Spike), and Construction Bank (Long Card). These banks issue 90% of
all credit cards in China. The Government estimates there will be 200
million cards in circulation by 2003 and plans to connect networks to
allow for common use of debit cards in 400 cities. The Bank of China
is increasing its issuance of credit cards (Great Wall Credit Card,
and Great Wall Borrowing Card) in order to support the government’s
efforts to increase consumer spending.
from The Financial Services Market in China, February 2001
http://www.tcm-mec.gc.ca/China/delegatearea/China/27136-e.pdf
Reportedly, the BOC has issued a total of 27 million credit cards in
the PRC (4.08 million Great Wall Renminbi credit cards, 19.41 million
Great Wall Electronic Debit Card and 58,467 Great Wall International
Card have been issued). The Great Wall cards are estimated to account
for 9.6 percent of the total number of cards issued by Chinese banks.
from China Corporate Compliance
http://www.aial.com/prcccMay02.html
"They [the Chinese banks] call them credit cards, but you need to
deposit money in the account before you can use it..."
http://www.financeasia.com/articles/4146E695-4E3B-11D4-8C0F0008C72B383C.cfm
Links to the Chinese banks:
http://www.isop.ucla.edu/eas/GWC/gwc%20banks4.htm |
