Credit card spending hits record high in 2016

Taipei--Credit card spending in Taiwan reached NT$2.42 trillion in 2016, the highest annual amount in the country's banking history, according to government statistics released Thursday.

In December alone, credit card holders spent NT$215.3 billion, an increase of NT$2.8 billion from the previous month, the Financial Supervisory Commission (FSC) said.

It was the third highest monthly level, after the NT$263.4 billion recorded in June 2016 and NT$242.5 billion in June 2015, the FSC said.

The increase in credit spending was partly due to year-end promotional campaigns launched by department stores and robust online shopping, the commission said.

Source: Focus Taiwan News Channel