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Chinese Citizens Transacted US$133 Trillion Overseas on Their Credit Cards in 2015

People’s Daily reported that, according to the statistics that the State Administration of Foreign Exchange published, in 2015, Chinese citizens spent US$133 trillion using their credit cards in transactions overseas. The foreign countries include Hong Kong, Macau, the U.S., Japan, and Korea. The category that had the largest spending was consumable goods, which accounted for 63 percent or 83.6 trillion while the second largest amount was cash withdrawals, which amounted to 23.1 trillion or 17 percent. The balance of the money, that is, the amount over that 80 percent, was spent on lodging, meals, transportation, education, and other services.

Source: People’s Daily, April 1, 2016