China UnionPay cards can now be used in over twenty further countries outside China, including Singapore, Malaysia, Thailand, Germany, France and Australia, according to a report by the Xinhua News Agency citing data from the People's Bank of China (PBOC) and China UnionPay.
This success follows China UnionPay cards becoming acceptable in the USA and Japan at the end of 2005, the report added.
According to unnamed officials at the PBOC, relevant departments at the Bank are pushing for the development of the nation's banking card industry. An extension of acceptability of Chinese bank cards outside China will allow Chinese tourists greater ease in consuming goods and services outside the country and will also facilitate the growth of various related industries.
Founded in March 2002, China UnionPay is an association for China's banking card industry, operating under the approval of the PBOC.
At present, there are 165 banking card issuers in China, with a total of more than 900 million cards issued nationwide.
In recent years, China UnionPay has strenuously extended its coverage globally to meet the increasing needs of Chinese card holders to use them outside China.