This newly updated report from Access Asia studies the growing market for credit and debit cards in China.
The report analyses the growing use of credit cards, and how this is affecting the retail and Internet market in China, both B2B and B2C.China launched its first credit card in 1985.
The issuer was the Bank of China and the card was called the Great Wall Card.
The Great Wall Card became a member of Visa in 1987 and began issuing the first international credit cards in China in 1988.
Credit cards aimed specifically at private individuals nationwide were only effectively introduced in 1993 and 1994.
This was possible because so many people had already amassed more than the prescribed savings limit to qualify for a card (between RMB 1,000 and RMB 3,000) depending on the card) Initial demand for cards was very high.