Growth rate exceeds 240%, approved by the central bank! China UnionPay increases capital to 9.963 billion UnionPay | People's Bank of China | Central Bank of China
Recently, the website of the People's Bank of China disclosed that the People's Bank of China has agreed to change the registered capital of China UnionPay from RMB 2.93 billion to RMB 9.963 billion, including the establishment of branch offices, separation, merger, major changes, termination, and dissolution approval information disclosure of bank card clearing institutions.
The last capital increase by China UnionPay can be traced back to more than a decade ago. Since its establishment, China UnionPay has undergone two changes in paid up capital, from 1.65 billion yuan to 2.886 billion yuan and from 2.886 billion yuan to 2.93 billion yuan, respectively, in 2008 and 2009.
Specifically, China UnionPay's first capital increase and share expansion occurred in 2008. At that time, the company increased its total share capital from 1.65 billion to 2.886 billion shares through targeted issuance, with a total issuance scale of approximately 1.2 billion shares and a fundraising amount of over 3 billion yuan.
Subsequently, in 2009, the registered capital of China UnionPay increased to 2.93 billion yuan, maintaining this level for 14 years.
According to official website information, in March 2002, with the consent of the State Council and the approval of the People's Bank of China, on the basis of merging 18 bank card information exchange centers, 85 institutions including China Banknote Printing and Minting Corporation, Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, and China Communications Bank jointly invested to establish China UnionPay Co., Ltd., headquartered in Shanghai.
In 2019, China UnionPay became the first institution in China to obtain a bank card clearing business license. As of 2022, China UnionPay has a total of 36 branches, 50 overseas branches, wholly-owned subsidiaries such as UnionPay International and Shanghai Lianyin Venture Capital, as well as holding subsidiaries such as UnionPay Business, UnionPay Data, Beijing UnionPay Gold Card Technology Co., Ltd., and CICC Financial Certification Center. The UnionPay acceptance network has extended to 181 countries and regions worldwide, with over 2500 member institutions both domestically and internationally.
In May of this year, Nielsen, a global market monitoring and data analysis company, released a report showing that in 2022, the transaction share of UnionPay debit cards exceeded that of Visa for the first time. It is reported that UnionPay's share is 40.03%, while Visa's share is 38.78%.
Meanwhile, from 2011 to 2021, Visa's debit card trading market share decreased from nearly 80% to 39.53%, while China's UnionPay payment system trading market share increased from almost zero to 38.68%. In 2022, the bank card transaction volume of China UnionPay Payment System was 16.227 billion US dollars.