This Day, That Year

Editor's Note: This year marks the 40th anniversary of China's reform and opening-up policy.

The credit card industry is emerging after a slow start since the Bank of China issued the first credit card in the country in 1985.

As of September, banks in China issued about 552 million credit cards, up 11 percent year-on-year, according to the People's Bank of China. It means an average of 0.36 per person - far below the 3.1 per head in the United States.