In 2023, the number of cards with a payment function per inhabitant in China stood at 6.60. Forecasted figures indicate a rising trend, reaching 6.84 in 2024 and projected to grow to 7.77 by 2028. This demonstrates a consistent year-on-year increase. The compound annual growth rate (CAGR) from 2023 to 2028 is expected to be approximately 3.3%, illustrating steady expansion in this metric.
Future trends to watch for:
- Impact of digital payment options on the growth rate of physical cards.
- Regulatory changes affecting the financial technology industry in China.
- Evolving consumer preferences towards contactless and mobile payments.
