--- SEARCH ---
WEATHER
CHINA
INTERNATIONAL
BUSINESS
CULTURE
GOVERNMENT
SCI-TECH
ENVIRONMENT
SPORTS
LIFE
PEOPLE
TRAVEL
WEEKLY REVIEW
Film in China
War on Poverty
Learning Chinese
Learn to Cook Chinese Dishes
Exchange Rates
Hotel Service
China Calendar
Dialing and
Postal Codes


Hot Links
China Development Gateway
Chinese Embassies
Info
FedEx
China Post
China Air Express
Hospitals in China
Chinese Embassies
Foreign Embassies
Golfing China
China
Construction Bank
People's
Bank of China
Industrial and Commercial Bank of China
Travel Agencies
China Travel Service
China International Travel Service
Beijing Youth Travel Service
Links
China Tibet Tour
China Tours
China National Tourism Administration

VISA Spending in HK Reaches Four-year High

Visa International announced here Tuesday that VISA card spending in Hong Kong reached a four-year record high of 128 billion HK dollars (US$16.4 billion) for 2004, representing a 22 percent increase year-on-year.

 

This strong growth in retail sales volume, or spending at the points of sale, is credited to healthier consumer sentiment in Hong Kong, as well as higher consumer usage of credit cards for everyday transactions and bill payments, Visa International said.

 

According to Prudence Chan, manager for Hong Kong/Macao of Visa International," now more than ever, people are using their credit cards in instances where they previously would have only considered using cash."

 

VISA card penetration in personal consumption expenditure rose to 16.1 percent in 2004, continuing the upward trend and demonstrating wider card acceptance.

 

Visa International said it maintains a positive outlook for 2005. Hong Kong's economy is projected to continue to grow in the coming year, and together with record tourist arrivals in 2004, these figures are likely to result in higher consumer confidence and increased card spending.

 

Visa Asia Pacific Tuesday also announced a 12.7 percent growth in retail sales volume for the whole of Asia Pacific market for 2004 totaling US$326 billion.

 

As the world's leading payment brand, Visa generates more than US$3 trillion in annual card sales volume. In Asia Pacific, Visa has a market share of 62 percent with more than 229 million VISA-branded cards in the region.

 

(Xinhua News Agency March 21, 2005)

HK Int'l Airport Named Best Airport Worldwide
HK Ocean Park Maps Out Its Ambitious Plan
HK's Tourism Industry Performs Strongly
300-Plus National Treasures to Be on Display in HK
Credit Card Fraud, Sabotage Amendments
Print This Page
|
Email This Page
About Us SiteMap Feedback
Copyright © China Internet Information Center. All Rights Reserved
E-mail: webmaster@china.org.cn Tel: 86-10-68326688