The Chinese have bank cards equal to the world population
China has more than 5 bank cards on average by the end of last year, according to official data from the People's Bank of China (PBOC).
The number of bank cards used in the country rose 13.51 percent year-on-year to 7.6 billion units by the end of 2018, equivalent to the world population of 7.6 billion, according to the People's Bank of China in a report on China's bank payment services. Latest UN statistics.
A total of 220.31 billion deals worth 3768.67 trillion yen (about 562 trillion US dollars) were settled last year through commercial invoices and bank cards, according to the central bank's report published by the official Xinhua news agency on Sunday.
The number of debit cards increased by 13.2 percent year-on-year to 6.9 billion units, while spending per card was 12,200 yen (about 1,800 dollars), up 19.06 percent from 2017.
Credit card loans, which exceeded 6 months, were 78.86 billion yen at the end of last year, equivalent to 1.16 percent of total outstanding credit.
Total assets of Chinese banking institutions totaled 261.4 trillion yen (38.49 trillion US dollars) at the end of last year, an increase of 6.4 percent year-on-year, while bank loans increased 12.6 percent year-on-year to 140.6 trillion yen.