According to the latest statistics released by the central bank, there are more than 160 bank card issuing institutions in China which have issued 875 million cards by the end of June this year. With a compatible network, the industrial chain has formed. In addition, the on-line payment system in China has joined the global payment network.

The gross transaction volume paid by bank cards in China totaled 24.06 trillion yuan from January to June this year. In those economically developed cities such as Beijing, Shanghai, Guangzhou, Shenzhen, payment by bank cards has taken up nearly 30 percent of the total retail consumption, close to the level of the developed countries. The relevant departments vows to better perfect the environment in which bank cards are allowed to use, setting the objective that 60 percent of businesses with annual turnover over 1 million yuan will accept bank card payment, and consumption with bank cards payment in large and medium cities across the countries will account for 30 percent of the nation's total.

By People's Daily Online