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China UnionPay Cardholders Spend 41 Trillion Yuan in 2014

China UnionPay cardholders spent a record 41 trillion Yuan last year, an increase in spend from the previous year of 27.3%.

To better put it into context, 41 trillion Yuan (US$6.6 trillion) is the equivalent of the gross domestic product of France, South Korea and the UK combined

Much of this growth can be attributed to Chinese continued economic growth and UnionPay’s commitment to expanding its network both domestically and overseas, with China UnionPay now having partnered with over 30 million overseas vendors and 1.8 million ATM machines in 150 countries.

The number of domestic merchants that accept UnionPay also grew last year, growing by some 58% on the year before.