问答题 Like the replacement of its old buildings with skyscrapers and the widening of two-lane roads into superhighways, China is instituting massive financial reform to foster growth and prosperity. The government has won global respect for its willingness to tackle banking, securities and state enterprise reform and to begin opening China's markets. At the same time, the government has wisely realized that export growth and foreign direct investment alone cannot drive the kind of growth necessary to sustain development in China. The fact is that domestic consumption will become increasingly more important in fueling China's continuing economic growth. As we have seen in many markets around the world, the development of consumer finance has been critical in stimulating domestic consumption. The use of credit plays an essential role in economic development. Credit provides consumers with more options, and allows them to choose from a wider variety of products and services to meet their desired lifestyles. And the use of credit cards in particular gets cash out from under the bed and begins to build banking habits. But the role of credit does not stop here. It is merely a starting point in the economic development cycle. An increase in consumer spending power leads to greater demand for goods and services. This in turn spurs growth in small-to-medium-sized businesses. The end result is a more mature, diversified economy. based around strong domestic demand and supply, and less vulnerable to external pressures. Think of it as an insurance policy against another regional economic downturn. While parallel development of the consumer finance and credit card industries is needed for long-term economic growth, other initiatives are also necessary to fully develop a sound. strong credit environment. China is changing, and so are its consumers. It wasn't so long ago that consumers had limited choices in the purchase of goods and services. But today, consumers are faced with a tremendous amount of choice, which is increasing every day. The development of new payment systems and options must proceed in tandem with growth in consumer choice. To ensure appropriate consumer response and to help make for a smooth transition, educational and legislative programs are paramount. For example, consumer education on the wise use of credit and financial planning will promote responsible card usage. And consumer rights legislation will help instill consumer confidence in the industry. Providing a strong foundation for the sound issuance of credit cards can also be achieved through risk management initiative such as the establishment of a centralized credit bureau. This will allow banks to ascertain if consumers have a past credit rating and are a "good" risk. All these compelling areas—consumer education, legislation, and risk management—combined with continued infrastructure development, will enable China's payment systems to expand and evolve to the next level.