Number of Credit Cards in China to Soar at a CAGR of 26%

The number of active credit cards in China is forecasted to grow at a CAGR of around 26% during 2010-2013 on rising consumer spending and changing lifestyle, says RNCOS.

Noida, India, December 09, 2009 --( According to their new research report "Global Credit Card Industry - Emerging Markets”, the credit card market in China has been witnessing healthy growth rate despite the growing concerns over rising credit card debts amid recession. Future of the credit card market also remains upbeat and the country is projected to see a CAGR growth of around 26% in credit card circulation during the period spanning from 2010 to 2013.

They have done an extensive research and prudent analysis of the Chinese credit card market in order to understand the factors that will continue to serve as growth saviors for the market over the forecast period. They have identified that various factors such as soaring consumer spending and changing lifestyle have been resulting into the higher usage of credit cards in the country. Besides, the role of banks in propelling the market could not be neglected, and their report contains ample information about their approach towards the market in coming years.

Their research also indicates that the market is largely untapped and is in the initial stages of development. In terms of penetration, the country lags behind many developed and developing nations. While there are several factors that may keep the credit card market growth on track in future, China has to deal with many obstructions to sustain the growth momentum. Their report gives valuable information about all the obstructions to enable clients understand them and devise appropriate strategies.

"Global Credit Card Industry - Emerging Markets" provides thorough analysis of the credit card industry in emerging markets like India, Mexico, South Korea, Russia, Poland and Brazil. It gives deep insight into each of the industry parameters like market attractions, market performance and roadblocks in these emerging markets. Most importantly, the report gives future outlook for all the important aspects of the industry considering the effects of global economic crisis on base drivers, opportunities and challenges.

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About RNCOS:

RNCOS, incorporated in the year 2002, is an industry research firm. We are a team of industry experts who analyze data collected from credible sources. We provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.

Shushmul Maheshwari
Chief Executive
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