The frequent overseas travelling by wealthy Chinese has fueled consumption abroad in recent years, Information Times Daily reported on Friday.

A latest credit card consumption report released by China Merchants Bank said the frequency of overseas travel by China's rich jumped 40 percent this year from that of 2008, citing relavent surveys.

It also said the surveys showed that the total consumption by China's high-end credit card holders hit 5 billion yuan in 184 countries and regions from January 2008 to October 2009.

Sixty-four billionaires from the Chinese mainland appeared in the latest Forbes Billionaires List, more than twice the 28 billionaires in 2009. For the first time, China ranks second on the list, following the United States.

The report shows that rich women and younger people are becoming the main force of Chinese consumption abroad.

According to the report, nearly eighty percent of Merchants Bank's VIP card holders are people between the ages of 31 and 45. Also, more women appear on the high-end clients lists, amounting to 30 percent of the total by the end of last year.

Among the top 100 stores the VIP clients have patronized abroad, 43.64 percent are malls with luxury goods.

Source: China Daily