Core Viewpoint - Postal Savings Bank of China (PSBC) announced the absorption and merger of its wholly-owned subsidiary, Postal Huinong Bank, to optimize management and business structure [2][4]. Group 1: Merger Details - The merger will result in PSBC inheriting all business, assets, debts, and rights of Postal Huinong Bank, which will cease to exist as an independent legal entity [4][5]. - The merger aims to achieve strategic integration, optimize resource allocation, and reduce management costs [5][6]. - The board of PSBC has approved the merger proposal, which will be submitted for shareholder approval and requires approval from the National Financial Regulatory Administration [5][6]. Group 2: Digital Transformation and Industry Context - PSBC has significantly increased its investment in financial technology, enhancing its digital and centralized capabilities, with mobile banking becoming the primary service channel [5][7]. - Postal Huinong Bank, established in January 2022 with a registered capital of 5 billion RMB, was designed as a platform for digital transformation and financial services for rural revitalization [7][8]. - The banking industry is witnessing a trend of digital transformation, moving from multiple experimental models to comprehensive integration, indicating a shift from extensive channel expansion to refined ecological development [8].

Group 1 - Postal Savings Bank of China (PSBC) announced the absorption and merger of its wholly-owned subsidiary, Postal Savings Bank Huinong Bank, to optimize management and business structure [1][3] - The merger will allow PSBC to inherit all business, assets, debts, and rights and obligations of Huinong Bank, aligning with PSBC's long-term strategic planning [3][5] - The merger aims to achieve strategic integration, optimize resource allocation, and reduce management costs, enhancing PSBC's online business capabilities and operational efficiency [4][5] Group 2 - Huinong Bank, established on January 7, 2022, with a registered capital of 5 billion RMB, has been a key player in PSBC's digital transformation efforts, focusing on serving rural areas and small enterprises [7] - As of June 2025, Huinong Bank had total assets of 12 billion RMB and over 20 million registered users, indicating its significant role in the digital banking landscape [7] - The adjustment by PSBC reflects a broader trend in the banking industry, where many banks are integrating their digital financial subsidiaries, marking a shift from initial experimentation to comprehensive integration [8]

Group 1 - The core viewpoint of the article highlights the collaboration between Bank of Communications and Hengsheng Electronics to explore the construction of a new asset management technology platform that aligns with Chinese characteristics and is internationally leading [1] Group 2 - The meeting involved discussions on the digital transformation of the banking industry, asset management platform construction, technology system development, and system innovation [1] - Both parties expressed their commitment to jointly explore the development of a new asset management technology platform [1]

Core Insights - The accelerated exit of physical bank branches is a significant trend in the banking industry's digital transformation process [1][2][3] - In the first half of this year, a total of 2,677 bank branches closed, surpassing the total of 2,533 closures for the entire year of 2024 [2][3] - The shift towards digital banking services is leading to a profound restructuring of financial service models, with over 90% of personal financial transactions now completed online [3][4] Group 1: Bank Branch Closures - A total of 2,677 commercial bank branches were shut down nationwide in the first half of this year, which is 144 more than the total closures for the entire year of 2024 [1][2] - The majority of closures were from rural commercial banks, with approximately 2,000 branches exiting the market [2] - The trend reflects a broader shift in consumer behavior, as many customers prefer digital banking solutions over physical branch visits [2][3] Group 2: Digital Transformation Impact - The total amount of off-counter transactions in the banking sector reached 26.268 trillion yuan in 2024, marking an 11.13% increase from the previous year [3] - The operational costs of traditional bank branches are high, with individual branches incurring annual costs of several million yuan, while transaction volumes have significantly decreased [3][4] - The digital transformation is expected to lead to a future where bank branches evolve into multifunctional service complexes, integrating various public and private services [3][4] Group 3: Future of Banking Services - Despite the reduction in physical branches, the need for certain banking services, such as complex business transactions, will still require in-person interactions [4] - Financial institutions are investing in technology to enhance service quality, with advancements in smart risk control and remote collaboration technologies improving operational efficiency [4] - The banking sector is moving towards a more efficient and inclusive service model, balancing the reduction of physical branches with the enhancement of digital capabilities [4]