Card Issuers Stymied By Chinese Who Pay Credit Cards In Full
Bloomberg reports on recent experience by HSBC and Citigroup in China where only 2 percent of cardholders frequently revolve an outstanding balance on their credit cards.
China's household savings represented 16 percent of the nation's gross domestic product at the end of 2004, compared with a minus 3.5 percent ratio in the U.S., where consumers spend more than they earn, according to International Monetary Fund statistics.
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