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China End-June Credit Card Delinquencies Up 131%

09-17 15:43 Caijing

» Credit card debt on which payments are delayed by six months or longer totalled 5.8 billion yuan at the end of June, up 131.3 percent year-on-year and up 16.2 percent from the end of March, the People's Bank of China said in a Sept. 16 statement.
» Credit card payments are closely watched during weak economies for signs of distress among consumers.
» At the end of June, about one Chinese out of eight owned a credit card, the statement said.
From wires
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