Increasing government support coupled with domestic market growth will drive the Chinese credit card industry to grow at nearly 31% CAGR during 2011-2014, RNCOS identified.
(prHWY.com) June 22, 2011 - Noida, India -- Chinese credit card industry is one of the most quickly expanding card markets across the globe and has shown impressive growth rates during the last few years. However, the market still remains largely unexploited as people prefer using cash instead of payment cards. Majority of the transactions are still done in cash and transactions done by plastic cards form only a small portion of the retail transactions in the country. Therefore, there exists ample scope for further developments, says our new research report "China Credit Card Market Outlook to 2013".
Our report identified that, with the rapidly surging middle class population, growing consumer spending, and huge untapped rural area, it is expected that the total number of credit cards in China will grow at a CAGR of around 31% during 2011-2014. Regulatory improvements and the government initiatives will boost consumer spending via bank cards. This will further minimize tax complications and add to the growth of this industry.
However, technology will play a key role in the Chinese bank card market to reduce the huge gap between urban and rural banking industry. It will help in increasing the penetration level of bank cards as well as bring large rural population in China within the reach of banking products and services.
Besides, we have done thorough research and prudent analysis of some critical factors acting as a catalyst for the industry's current and future growth outlook. The report also discusses market structure, current and past market performance of the industry. Additionally, it provides a segment level analysis of the industry to facilitate a balanced market understanding.
"China Credit Card Market Outlook to 2013", provides an extensive research and rational analysis along with reliable statistics of the credit card market in the country. It offers a detail study of the forces driving the industry and discusses key market trends prevailing in the industry, thus making China a potential market for credit cards. It also provides information (analysis and statistical data) of various industrial parameters that will help clients to analyze opportunities critical for their success in the Chinese credit card industry.
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About RNCOS:
RNCOS specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals study and analyze the industry and its various components, with a comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the consultants in meeting their objectives in a cost-effective and timely manner.
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