China cross-bank card transactions up 47% during Spring Festival: China UnionPay

19:52, February 20, 2010      

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Cross-bank card transactions rose 47 percent year on year to 56.9 billion yuan (8.33 billion U.S. dollars) on the Chinese mainland during the Spring Festival holiday, China UnionPay said Saturday.

About 100 million cross-bank card transaction deals occurred during the holiday period from Feb. 13 to 19, up 25 percent year on year, China UnionPay said in a statement on its website.

Bank card transactions for jewelry, arts and crafts rose the most, by 161 percent, while automobile sale transactions and gas sales both increased 120 percent.

China UnionPay bank cards can be used overseas, and overseas transactions by mainland card holders expanded 80 percent during the Spring Festival period, the statement said.

Transactions on bank cards tailor-made for migrant workers climbed 33 percent year on year to 1.7 billion yuan during the peak home-returning season (Feb. 6 to 19).

Source: Xinhua
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