Hong Kong’s credit card spending rose nearly 8 percent in the fourth quarter, driven by festive spending and salaries tax payments, a survey by the Hong Kong Monetary Authority showed.

Total card receivables increased by 7.9 percent in the fourth quarter to HK$162.2 billion at the end of last year, the survey results showed.

The combined delinquent and rescheduled ratio remained unchanged at 0.4 percent at the end of December, the HKMA said.

The quarterly charge-off ratio was 0.57 percent, compared with 0.58 percent in the previous quarter.
STAFF REPORTER