Unionpay transactions hit new records during holiday

Online transactions by China Unionpay hit a new record high during the Spring Festival holiday, with people spending more to upgrade their consumption, the latest data showed.  

Online transactions by China Unionpay hit a record high of 679 billion yuan (US$107.2 billion) during the weeklong Spring Festival holiday, data from the banking card association showed.

The volume and number of online transactions grew by 47 percent and 35 percent respectively year on year, and Chinese people spent more on quality catering and cultural entertainment, according to the latest data from China Unionpay.

Shopping, reunion dinners, traveling and recreational activities are the top four themes for people’s consumption. 

Users of Unionpay cards spent more than 43 percent on shopping compared with the same period a year ago, while the amount spent on catering increased by almost half, with a noticeable growth in high-quality food.

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