Thursday, April 17, 2014   

Holiday buying binge surpasses 100b yuan
(01-02 18:58)

Chinese consumers are spending a record amounts, with total transactions over UnionPay exceeding 100 billion yuan on New Year's Day alone.
China UnionPay, the central bank card association, said the value represented an increase of 53 percent year-on-year, a record growth in recent years.
Transactions in supermarkets and department stores grew by 52 percent, while spending on household appliances jumped by 43 percent.
Spending on jewelry surged by 77 percent.
Most strikingly, purchases from overseas via UnionPay's online payment services shot up by 860 percent.—Xinhua
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