Survey confirms credit card popularity

An AC Nielsen survey of 11,500 people across 18 cities in China confirmed the growing popularity of credit cards with Chinese consumers, the 21st Century Business Herald reported. The report highlighted Xiamen in southeastern China’s Fujian province as a typical example. It showed that four in every ten consumers in the city hold at least one credit card, and half of those with at least one credit card had two or more credit cards. 14% of the respondents use credit cards to pay instalments on hire purchases for expensive items. AC Nielsen found that 18 to 24-year-olds were the most active users of credit cards.