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China's credit card business maintained its pep over the past two years, according to the world famous consulting firm, McKinsey.

Zhang Lemeng, member of the board of the McKinsey, said, "Credit card will become the fastest-growing sector in China's retail banking business. " According to the market research made by the McKinsey (China) Ltd., the number of credit cards China has issued rose to 12 million for this year, up from 3 million at the end of 2003.

"The credit card business will account for 14 percent or so of profits made by China's banking industry in 2013," Zhang predicted.

She forecast that by 2013, credit card will become the second largest retail banking service, next only to that for home buying,with an annual profit of 1.6 billion US dollars, or 22 percent of combined profits for all retail banking services.

According to McKinsey's research findings, 90 percent of credit card holders on the Chinese mainland had an annual household income of 4,000 US dollars or more. Approximately 35 percent of them lived in four big cities namely Shanghai, Beijing, GuangZhou and Shenzhen.

Related development shows that the four leading state-owned commercial banks, including the Industrial and Commercial Bank of China, China Construction Bank and the Bank of China, claimed a 50-percent share of the mainland's credit card market.