Statistics of payment cards issued in Hong Kong for second quarter 2024
The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) published today(September 20) statistics of payment cards issued in Hong Kong for the second quarter of 2024.
The payment card statistics (see Annex) include quarterly data on credit and debit cards issued in Hong Kong under the credit and/or debit card schemes of the eight payment card scheme operators (Note 1). The HKMA began to publish the payment card statistics on a quarterly basis in June 2010 to enhance transparency of the payment card industry in Hong Kong, in line with international practice.
According to the quarterly statistics, the total number of credit cards in circulation (Note 2) was 19.89 million by the end of Q2/2024. The figure represents a 0.5 per cent decrease from the previous quarter and a 0.9per cent increase from the previous year. The number and value of credit card transactions (including retail sales and cash advances) (Note 3) are susceptible to seasonal factors and the general economic environment, making the trends more prone to fluctuation. The total number of credit card transactions was 322.06 million for Q2/2024, representing a 6.5per cent increase from the previous quarter and a 26.7per cent increase from the same period in 2023. The total value of credit card transactions was HK$239.2 billion for Q2/2024, representing a 5.4per cent decreasefrom the previous quarter and a 10.0per cent increasefrom the same period in 2023. Of the total transaction value, HK$165.6 billion (69.2 per cent) was related to retail spending in Hong Kong, HK$64.6 billion (27.0 per cent) in retail spending overseas and HK$9.0 billion (3.8 per cent) in cash advances.
The total number of debit cards in circulation is not available due to overlapping of debit card brands in a single card. Like the number and value of credit card transactions, the number and value of debit card transactions in relation to retail sales and bills payments (Note 4) are also affected by seasonal factors. On a quarterly basis, the total number of debit card transactions in relation to retail sales and bills payments increased by 7.2per cent to51.78 million while the total value decreasedby 11.3per cent to HK$66.8 billion in Q2/2024. When compared to the same period in 2023, the total number increasedby 16.5per cent and the total value droppedby 1.9per cent in Q2/2024.
Note 1: The payment card statistics are compiled from data on credit and debit cards issued in Hong Kong by both authorized institutions (AIs) and non-authorized institutions (non-AIs) under the credit and/or debit card schemes of the eight payment card scheme operators (the card operators). The card operators, in alphabetical order, are American Express International, Inc., Discover Financial Services (Hong Kong) Limited, EPS Company (Hong Kong) Limited (EPSCO), JCB International (Asia) Ltd, Joint Electronic Teller Services Ltd. (JETCO), MasterCard Asia/Pacific Pte. Ltd., UnionPay International Co. Ltd and Visa Worldwide Pte. Limited.
Note 2:A credit card issued in Hong Kong only carries one credit card brand. The total number of credit cards in circulation refers to the total number of credit cards (i.e. cards with a credit function) issued in Hong Kong under the credit card schemes of card operators (but excluding EPSCO and JETCO, which do not operate a credit card scheme). Some of these credit cards carry debit card functions, i.e. the credit card can be used for making purchases/payments or cash withdrawal at ATMs through directly debiting cardholders' bank accounts.
Note 3:The total number/value of credit card transactions refer to the total number/value of transactions made via credit card accounts of credit cards issued in Hong Kong under the credit card schemes of card operators (excluding EPSCO and JETCO). Starting from March 2015, a Hong Kong/overseas spending breakdown of credit card retail sales transactions is provided.
Note 4:The total number/value of debit card transactions in relation to retail sales/bill payments refers to the total number/value of those transactions made via debiting cardholders' bank accounts. Some of the eight card operators do not operate a debit card scheme. Care should be exercised in combining the credit card retail sales figures and the debit card retail sales/bills payment figures because of the possibility of double counting.
DH welcomes WHO Regional Director for Western Pacific and showcases contributions of Hong Kong, China to global public health, Chinese Medicine development and tobacco control
The World Health Organization (WHO) Regional Director for the Western Pacific, Dr Saia Ma'u Piukala, visited the Department of Health (DH) today (March 11) to gain insights into its pioneering efforts in advancing global public health, prevention and control of infectious diseases, traditional Chinese Medicine development and effective implementation of tobacco control strategies.
This visit marks Dr Saia Ma'uPiukala's first trip to Hong Kong since his appointment by the WHO last year. During the meeting, the Director of Health, Dr Ronald Lam, gave an overview of the DH's extensive services, covering disease prevention and control, health regulation, health promotion, dental, rehabilitation and specialised health services. The Controller of Regulatory Affairs of the DH, Dr Amy Chiu, highlighted Hong Kong's commitment and proactive tobacco control strategies, especially the imposition of a ban on alternative smoking products, which can effectively prevent their use in the territory. The Controller of the Centre for Health Protection of the DH, Dr Edwin Tsui, also outlined the response measures implemented during the COVID-19 pandemic and shared experiences on prevention and control as well as future plans. The DH also engaged in discussions with Dr Saia Ma'u Piukala to enhance collaborative efforts in the prevention and control of various infectious diseases, including influenza, AIDS, and viral hepatitis.
Dr Saia Ma'u Piukala applauded the measures and commended Hong Kong for the DH's active participation and contributions to the prevention and control of various diseases and global health governance.
"We are looking forward to stronger collaboration with the DH. Together, for the sake of the young generation and the world, we hold the power to make a difference," said Dr Saia Ma'u Piukala.
Dr Saia Ma'u Piukala was then accompanied by the Head of the Tobacco and Alcohol Control Office (TACO), Dr Fung Ying, to a statutory no smoking area in Admiralty to inspect the enforcement work of the staff of TACO of the DH. He was also briefed on the tobacco control policy and the way forward to control smoking in Hong Kong.
In the afternoon, Dr Saia Ma'u Piukala went to the Government Chinese Medicines Testing Institute (GCMTI) of the DH and was briefed by the Assistant Director (Chinese Medicine), Dr Edmund Fong, on the work of the GCMTI as well as the DH's efforts in promoting the development of the Chinese medicine locally and internationally, including the development of standards for Chinese herbal medicines, and new identification and testing skills and methods for Chinese medicines to add momentum to the modernisation and standardisation of Chinese medicine.
DH staff then accompanied Dr Saia Ma'u Piukala to visit the Harlech walking trail on the Peak to appreciate the wild medicinal plants there, including pavettahongkongensis bremek, cibotiumbarometz (L) J Sm, and ficus hirta vahl, which are recorded in a publication called "Hong Kong Characteristic Medicinal Plants" published by the DH.
"The DH is committed to advancing global health initiatives and overcoming public health challenges in collaboration with the WHO. Our designation as the WHO Collaborating Centre for Traditional Medicine and the WHO Collaborating Centre for Smoking Cessation and Treatment of Tobacco Dependence demonstrates our dedication to enhancing human health and well-being. Furthermore, the WHO has designated the Public Health Laboratory Services Branch of the Centre for Health Protection of the DH as reference laboratories for various communicable diseases, making significant contributions to fighting epidemics worldwide. We will continue to strengthen our work with the WHO and other WPRO member states, and embrace our role as a 'super-connector' bridging Mainland and global health partners," said Dr Lam.
Dr Saia Ma'u Piukala met with the Secretary for Health, Professor Lo Chung-mau, yesterday (March 10). During their stay in Hong Kong, the DH also arranged for the WHO delegation to meet with other representatives of the public health sector.
DH welcomes WHO Regional Director for Western Pacific and showcases contributions of Hong Kong, China to global public health, Chinese Medicine development and tobacco control Source: HKSAR Government Press Releases
DH welcomes WHO Regional Director for Western Pacific and showcases contributions of Hong Kong, China to global public health, Chinese Medicine development and tobacco control Source: HKSAR Government Press Releases
