China's credit card market enjoys huge potential

"It's just a beginning. I think there's a huge potential going forward." That's how a senior management with American Express describes the credit card market in China.

The world's largest independent credit card issuer has recently cooperated with China CITIC Bank. They together launched their first card product in Beijing on Monday.

China's central bank unveils that the number of credit cards issued in the country has been increasing at an average growth rate of 1 million per month in the first quarter of this year.

Based on a record of nearly 50 million by the end of last year, this growing pace, however, doesn't surprise Dave Keung, the vice president of American Express Greater China.

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