The Chinese market is vast and, relative to other developed markets, is still experiencing rapid expansion.
Chinese consumers are very sophisticated, and highly brand conscious.
The degree of sophistication is ever increasing as more brands and products are introduced into the market place. The Chinese consumer economy has remained buoyant, and spending continues to grow. Similarly, local banks are attempting to modernise and extend their operations in order to better compete in the new regulatory climate. China launched its first credit card in 1985. The issuer was the Bank of China and the card was called the Great Wall Card.