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September 9, 2005
Credit Cards and China
One of the biggest hurdles for ecommerce growth in China is the low number of Credit Cards in circulation, this is also 1 of the most common questions I get asked by westerners when talking about "the web" in China.
So over my 50 RMB set lunch today, I read a great article on a report by McKinsey & Co titled "Banks struggle to profit from plastic"
The number of credit cards in China surged to 120 million at the middle of this year from 3 million two years earlier.
Posted by shak at September 9, 2005 2:46 PM