Aug 30, 2011 – CCG hosted a roundtable conference for CCM’s co-brand consumer card value-added service system—which will now be used in the ACFTU (All-China Federation of Trade Unions), ACFIC (All-China Federation of Industry and Commerce), and the Business System of Union Pay—in the Great Hall of People in Beijing.
Some of the notable participants in the conference were: CCG’s Chairman and CEO, Mr. Jianmin Gao; Vice Mayor of Fuxin City, Mr. Jinfa Liang; Chairman of Fuxin Bank, Mr. Weixing Xie; Director of Banking Regulatory Bureau, Mr. Jun Duan; Director of Services Committee for Fuxin City, Mr. Yan Zhang; Director of Tourism Bureau, Mr. Hui Zhang; and Executive President, Mr. Fei Gao.
Several national leaders attended the conference as well, including: Vice Chairman of National People’s Congress, Mr. Siwei Cheng and Director of the State Development Research Center, Mr. Wei Li. Representatives from the State Council Information Office, the Ministry of Commerce of China, the China Banking Regulatory Commission, and the Tourism Bureau of China were also in attendance, as were representatives from ACFTU and the ACFIC.
CCG’s Chairman and CEO, Mr. Gao, introduced CCM’s value-added system. He highlighted China’s twelfth five-year plan, specifically its encouragement of the expansion of domestic demand. Based on this opportunity, according to Mr. Gao, CCG launched its CCM consumer card value-added system as a way to enter China’s burgeoning B2C ecommerce sector. This model has been experiencing success in Fuxin city, according to Mr. Gao, and now CCG will extend it to ACFTU, ACFIC, and the Business System of Union Pay.
The Vice Chairman of National People’s Congress, Mr. Siwei Cheng, further noted that China’s twelfth five-year plan details the nation’s plans to double sales of consumer goods, production, and scale of its consumer market.
According to the estimates of “China Economic News,” in the next two years, the rate of consumption in China will surpass 8.5% and the contribution of domestic demand to GDP will rise over 8%. According to recent data from the Ministry of Commerce, the total sales of consumer goods in China is $2.42 trillion and the economic growth rate by consumption is rising by about 3.9%. In 2010, the volume of trade in e-commerce business was $705 billion—compared to the same period last year, this was an increase of 22%. Moreover, the volume of trade in online shopping market was $81.99 billion, which was an increase of 97.3% compared to the year prior. In 2010, the volume of trade in online shopping market accounted for 3.4% of the total sales of production. Recent studies also indicate that in 2010, the demand for transport, communications, housing, education, and entertainment increased significantly in China. CCG, through its CCM co-branded debit card program, looks to capitalize on the developments in online shopping, credit card spending and other forms of consumption in China.