The consumer credit outstanding balance in China is set to see only a low increase over the forecast period, mainly due to minimal growth in demand for card lending. According to Euromonitor data, credit cards in circulation are set to continue to decrease in both 2024 and in the forecast period, with gross lending following suit.
The financial regulators in China are likely to introduce more supportive measures over the forecast period; moves include potential monetary easing, and support for the banks, and for the housing market. On 24 September 2024, The PBOC, along with other financial regulators, announced a series of stimulus measures to boost the economy and revive consumer confidence.
Buy now pay later (BNPL), whilst becoming increasingly popular in other parts of the world, is still at a nascent stage in China. Nevertheless, the growth prospects remain strong for the forecast period, thanks to the wide use of electronic payment, and the popularity of online shopping.
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Understand the latest market trends and future growth opportunities for the Consumer Credit industry in China with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Consumer Credit
Non-mortgage consumer debt extended to individuals for personal or household use including installment loans and credit cards. Examples of consumer credit include auto lending, card lending, durables lending, education lending, home lending and other personal loans. Consumer credit includes both revolving and non-revolving credit.
See all of our definitionsThis report originates from Passport, our Consumer Credit research and analysis database.
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