Banking

China UnionPay sees robust inter-bank transactions

(Xinhua)
Updated: 2011-01-05 11:13

BEIJING - China UnionPay Co Ltd (CUP), a Chinese bankcard services provider, said Tuesday its inter-bank transactions grew robustly during the country's New Year holiday.

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From Jan 1 to Jan 3, domestic inter-bank transactions totaled 92.19 billion yuan ($13.9 billion), up 44.5 percent year-on-year, China UnionPay said in a statement posted on its website.

During the period, the sum of overseas inter-bank transactions surged 47.06 percent compared with the same period last year, it said, without providing the figure.

China UnionPay attributed the growth to a domestic travel boom, Chinese travelers' shopping enthusiasm abroad, and the company's improved service.