China Plans to Open Up Credit Card Business in 2006

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00001570-china-plans-to-open-up-credit-card-busine/

China is accelerating the development of its credit card industry before the end of 2006, when it plans to open the sector wider to foreign players as part of Beijing’s commitments to the World Trade Organisation.

In a nation of 1.3 billion, only 12 million credit cards have been issued by June, and both foreign and domestic companies are struggling to make profits.

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