Forecast: Number of Cards with a Payment Function in China

From 2013 to 2023, the number of cards with a payment function in China experienced significant growth, from 4.21 billion units to 8.79 billion units. This growth is marked by overall positive year-on-year variations, peaking at 19.23% in 2013, and gradually stabilizing in recent years. The compounded annual growth rate (CAGR) over the last 10 years provides insight into the trend, revealing a peak CAGR of 13.62% in 2017 that tapered to 2.95% by 2023. Notably, in 2022, there was a slight decline of 1.5%, followed by a recovery with a 3.25% increase in 2023, indicating a possible stabilization phase.

The forecasted data from 2024 to 2028 suggests a continued upward trend, reaching 10.11 billion units by 2028. The future looks promising with an expected five-year CAGR of 2.14% and overall growth of 11.15% from 2023 to 2028. This indicates a steady but more moderated growth phase compared to the earlier high-growth years.

Future trends to watch for include:

• Integration of new digital payment technologies potentially influencing card issuance and usage.
• Regulatory changes and their impact on market dynamics.
• Consumer behavior trends shifting towards mobile and digital wallet solutions.