Deep adjustment of bank credit card business.

In the past year, China's credit card market has continued to shrink, and the industry has entered a "deep water zone" of adjustment. Recently, the People's Bank of China released the "Overall Situation of Payment System Operation in 2025", showing that as of the end of last year, the total number of credit cards and integrated lending cards in the country was 696 million, a decrease of 11 million compared to the end of the third quarter, officially falling below the 700 million mark. The industry's scale has been declining for multiple years in a row. While the issuance of credit cards continues to shrink, banks have begun adjusting their credit card businesses comprehensively, from suspending the issuance of co-branded cards, integrating online apps, to closing offline credit card centers and accelerating the transfer of bad credit card assets. These series of measures indicate that the credit card business is gradually moving away from extensive expansion, and is further deepening cost reduction and efficiency enhancement during the period of stock operation to optimize business structure.