The value of credit card debts more than six months overdue in China stood at $844.8 million at midyear, up 131% from a year earlier, the People's Bank of China said.

Defaults accounted for approximately 3.1% of total credit card outstandings, up 0.7 percentage point from a year earlier, the country's central bank said last week.

Banks in China had issued 162.6 million credit cards as of June 30, up 32.9% from a year earlier.

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