During the review period (2007-2011), the Chinese consumer finance market registered a compound annual growth rate (CAGR) of 28.33%
The sustainable growth in consumer finance market in China will be fuelled by improving macroeconomic fundamentals and rising domestic demand for consumer finance products, the report points out.
During the review period, the housing loans category, which is the largest category in the Chinese consumer finance market, recorded a CAGR of 24.65% and it is expected to rise at a CAGR of 20.86% over the projected period.
Changing life style and increasing per capita income has encouraged the Chinese to access more personal loans and have credit card facility and the study found that credit cards issued in China increased rapidly at a CAGR of 27.47% during 2008-2011.
The report highlights that the penetration of personal loans is very low in China accounting for only 5% of the total consumer finance market, while the auto loans category recorded a CAGR of 37.88% during the review period.
The study concluded that Chinese education loan category is relatively undeveloped, due to the parents preference to pay for education fees and expenses through their personal savings.
The full report "Emerging Opportunities in the Chinese Consumer Finance Market: Market Size, Strategies, Products and Competitive Landscape’ is available from BRICdata. Click here for more details.
