subject: Governmental Policies On Chinese Bank Card Industry [print this page] Research Report on Chinese Bank Card Market, 2010-2011
Bank card is a modern financial instrument and the carrier of multiple financial businesses. Since Chinese first bank card was issued by Bank of China Zhuhai Branch in 1985, the functions of bank card are perfected progressively. The bank card, with its convenience and safety, gradually acquires the recognition of Chinese people. Therefore, the application scope of bank card is also enlarging. An increasing number of residents and traders begin to accept bank cards. ( http://www.bharatbook.com/detail.asp?id=97588&rt=Research-Report-on-Chinese-Bank-Card-Market-2010-2011.html )
In recent years, Chinas bank card industry develops vigorously. By the end of 2009, the total issue volume of bank cards reached about 2.06 billion in China. The penetration rate of bank cards was 32%. The issue volume of credit cards came to 186 million with the total credit line of about CNY 1.36 billion and the final repayable credit of about CNY 245.76 billion. The bank card plays an increasingly important part in the social and economic activities.
Large state-owned commercial banks and joint-stock commercial banks dominate Chinese bank card market. The market share of the four major state-owned commercial banks of China was over 40% in Chinese new card issue market in 2009.
Co-branded card issue has become the mainstream strategy considering the card issue conditions of banks. The growth in the number of card issuers intensifies the competition in Chinese bank card market. Under the circumstances, it is an important market strategy for card issuers to search for cooperative partners, fully integrate the superior resources of cooperators, promote co-branded cards with the assistance of cooperators, and attract and keep clients by offering various preferential measures.
Moreover, according to the Regulation, when foreign banks are transformed into the locally-registered banks, they can issue CNY credit cards in China. Presently, a number of foreign-funded banks have issued various debit cards in China. In the past few years, the Bank of East Asia has even released several types of credit cards.
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