Since then he was caught by urbanizationThe problem is that they are exempt from seizureThe aspirations of each and the other joinA haute couture of first lady but not onlyThe European highspeed network will triple by 2020And it is the same in the rest of the worldThis reform requires a readjustment of the cantons5 for the iPhone and 6 for the Sony ReaderThe success of La Banque Postale is WernerBut very quickly and tension have emergedLast Thursday, Xiao Yu commissioned his seventh credit card. Seeking a ticket on the online travel agency China's Ctrip, she discovered that a payment with a card of the China Merchants Bank would give right to a slight reduction and coupons for a future stay at the hotel. The young woman therefore immediately filed an application to the Chinese Bank, which will send free of charge by courier, earlier this week, his new card online. Last month, she had followed the same approach to take advantage of a promotion related to Bank of China. When her aunt made a transfer in the spring, she opened an account and ordered a card at ICBC to take advantage of free transactions. "I have no charge as long as I pay my bills month end in time." "Then why deprive me", fun Xiao Yu, who discovers the joys of consumption credit like the rest of the Chinese urban youth.
Long unpopular in a population known for his frugality, the use of credit cards has soared since the beginning of the 2000s. Between 2006 and early 2009, their number, according to Central Bank estimates, more than tripled in the country to reach the 150 million units. Every day hawkers paid one past cards roving malls and buildings of offices of Chinese cities to propose such or such product and welcome gift associated. "There has been an acceleration of the dissemination of these maps." "Banks seek to retain clients and prefer the amount on the quality," said Guo Tianyong, a researcher at the Central University of finance and economics.
Quotas imposed on vendors
Until this summer, the Chinese authorities had closed their eyes on the popularity of these products. Desperate to break the dependence of growth in international trade, they saw in this new form of consumption a unique opportunity to boost too low domestic demand in a country where households save 30 of their income. But several "Affairs" came to mind the drift of the phenomenon. The testimony of parents ruined by the credits of their child having obtained several cards without having to present any source of income including began to flourish in the State press. "Controls on the solvency of customers are very slight, even non-existent." "Debts accumulate and the banks have no profit from this activity," said Guo Tianyong.
According to the Chinese Central Bank, late payments on credit card transactions have jumped in annual landslide, 133 in the first half of 2009. On the six first months of the year, 4.97 billion yuan (EUR 510 million) in refunds accused delay more of sixty days in the banks in the country. At the end of the year, bad debt credit card could reach 3 against 2.4 end of 2008, provides Guo Tianyong. "Financial institutions need to be vigilant about the potential risk of this increase in the volume of loans in arrears", warned the Central Bank last month.
Advised by the Government, the regulator of the banking sector (RCAC) is to enact new rules. Now the banks in the country cannot formally provide gift for new cardholders and will have to impose quotas on their vendors so that they do not encourage the unbridled dissemination. For the first time, financial institutions will also have to waive give credit cards to persons of 18 years of age.
