Xin Lang Cai Jing·2026-01-09 09:00Core Viewpoint - The China Construction Bank's Pacific Credit Card Center is undergoing significant restructuring, leading to the closure of numerous local branches as part of a shift towards a branch-based operational model for credit card services [1][7][15]. Group 1: Closure of Branches - The Sichuan Financial Regulatory Bureau has approved the termination of operations for the Chengdu branch of the China Construction Bank's Pacific Credit Card Center, effective December 26, 2025 [1][12]. - The bank has closed a total of 59 local branches since the second half of 2024, affecting 31 provincial-level administrative regions and municipalities [1][13]. - Recent closures include the Xi'an branch, which was approved for termination on December 17, 2025, and the Taiyuan branch on November 13, 2025 [1][12]. Group 2: Business Model Shift - The bank's management has indicated that the closures are part of a broader reform of its credit card business model, transitioning from a centralized management approach to a branch-based operational model [8][9][15]. - This change aims to better meet the diverse financial needs of customers and adapt to the evolving landscape of credit card services [9][15]. - The credit card business will now be integrated into retail banking operations, providing a more comprehensive financial service to local customers [9][15]. Group 3: Decline in Credit Card Volume - The number of credit cards issued by the bank has seen a significant decline, with the total number of active cards dropping to 63.01 million by the end of 2024, down from 71.32 million in 2023, representing an 11.66% decrease [10][16]. - This decline reflects a broader trend in the bank's credit card operations, which has faced challenges in maintaining its customer base [10][16].