China bank card transactions surge in holiday

SHANGHAI - Chinese card payment giant China UnionPay Sunday said transactions surged during the four-day May Day holiday as cardholders went on a spending spree.

Total transactions through the China UnionPay network soared to 1.29 trillion yuan (around $192 billion) between May 1 and 4, up 42 percent on a daily basis from last year's May Day holiday, the Shanghai-based agency said.

Thanks to the extended holiday and sunny weather in many parts of the country, tourism-related consumption was greatly boosted. The average daily spending on travel agencies and tickets for large scenic spots surged nearly 60 percent year on year, while spending on hotels and restaurants increased by more than 30 percent and 20 percent respectively.

"In line with the strong demand for tourism, there has been a significant increase in spending on fuel and transport such as highways and railways," said Chen Han, a data analyst with China UnionPay.

When it comes to overseas trips, emerging tourist destinations such as Turkey, Mauritius and Sweden saw increasing transactions through the China UnionPay network.