Abstract
The credit card system has thus been developed for more than half a century and is now an important financial tool with benefits from circulation credit, to interest-free periods, to expense points, and so on. The credit card has consummated all of its planned functions with the aid of modern technology and become indispensable to consumers. China UnionPay released the ?Chinese Bankcard Industry Development Report in 2003, stipulating development of the Chinese credit card industry in four stages. The huge Chinese credit card market requires supervisory institutions to provide strict management by means of legal, administrative, and economic tools. This chapter explores supervisory channels with Chinese characteristics for the burgeoning credit card industry, based on the experience of developed countries. The financial storm sparked by the American subprime lending crisis created a very dark global economy indeed. Keywords: China UnionPay; credit card industry
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