Plastic lending climbs to record high of 2.55 trillion yuan in Q1

China's credit card lending hit a record high in the first quarter of the year, which reflected the government's plan to boost consumer spending.

The total amount credit card holders could borrow in the first three months climbed to 6.23 trillion yuan ($1 trillion), up 29.79 percent compared to the same period last year, according to a People's Bank of China report.

Total credit card receivables, the actually amount borrowed by customers on their credit cards, increased to 2.55 trillion yuan, up 35.49 percent from a year earlier.