Chinese travelers bitten by credit bug

Once upon a time, the Chinese saved before they spent. But a survey has found that things are changing.

Chinese consumers have now surpassed their US counterparts to become the most likely to "buy now, pay later", especially when they pay for flights and holidays, according to a survey by Worldpay, a London-based company that provides payment products and services worldwide.

Covering 12,000 travelers from around the world, the survey shows that 72 percent of Chinese travelers say that they paid for their last holiday with credit cards or bank loans instead of savings, challenging the traditional belief that the Chinese save before they spend.