Credit card debts that had been outstanding for six months totaled ¥7.43 billion ($1 = ¥6.83) in China as of 30 September 2009, up 28.6% quarter-on-quarter and 126.5% year-on-year, said Monday the People's Bank of China, the nation's central bank. Debts overdue for six months are usually expected not to be collected and are hence written off as bad debts. The outstanding amount accounted for 3.4% of the total repayable credit card loans by that point, up 0.3 percentage points on the end of the June quarter. From January through August, 6,362 credit card fraud cases involving ¥440 million were filed in the country, up 200% and 238% compared to the same period last year.
You are currently reading
total words in this article.
To continue reading this article, you must be a subscriber. Log in now..