Credit-card debt at least six months overdue rose 36% in the second quarter of 2011 compared to the same period last year, according to data contained in a People\'s Bank of China report released yesterday. By the end of the second quarter, the total amount of unpaid credit for six months reached 9.93 billion yuan, up 1.722 billion on the amount outstanding at the end of the first quarter. Sun Lijian, the deputy head of the school of economics at Fudan University, told International Finance News that the increase in overdue credit card debt is a result of tightened monetary policy.

Source
International Finance News

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