Research On Credit Card Industry In China After Financial Industry's Open-up

China had promised that financial market would be open to foreign investor five years after the entry to WTO. The deadline is 2007. In fact, four foreign invested banks opened their locally incorporated entities in China in April. They will tap into Chinese household savings and surging demands for mortgages, credit cards and other services. Obviously, they have strong advantages in serving, management and R&D. How can the Chinese credit card industry manage the situation?This thesis aims to analyze the opportunities and threats China is facing, and suggest how we can compete with the rivals. The first part outlines the new development in the industry, and the macro environment. The second part introduces the development in U.S., Japan and South Korea. It also summarizes the successful experiences of U.S and Japan, and reasons of losing control in credit card industry in South Korea. In the last part of the thesis, four recommendations on how to develop credit card industries in China are as follows: First, the legislation in credit card industry should be perfected. Second, the credit info system including all kinds of credit centers and credit ranking agencies should be established. Third, It should be permitted that more investors including leader manufacturers and retailers can invest in credit card industry. Finally, it is suggested that government agency should support the development of CHINAPAYUNION Co Ltd.