Core Viewpoint - The banking industry is experiencing a significant shift as multiple banks, including state-owned ones, are discontinuing various credit card products due to market conditions, regulatory requirements, and internal business needs, indicating a transition from expansion to competition in existing markets [1][5]. Group 1: Credit Card Product Discontinuation - China Bank announced the discontinuation of 24 credit card products effective August 31, which includes various types such as co-branded and themed cards [2][4]. - Other banks like Citic Bank, Minsheng Bank, and Shanghai Pudong Development Bank have also issued similar announcements regarding the cessation of certain credit card products [2][5]. - The reasons for discontinuation include business development needs, upcoming product retirements, and expiring card authorization contracts [3][6]. Group 2: Declining Credit Card Issuance - The issuance of credit cards has been declining for ten consecutive quarters, with the total number of credit cards and credit card loans dropping to 721 million by the end of the first quarter of this year, reflecting a 5.14% year-on-year decrease [5][6]. - The trend of reducing credit card offerings is attributed to pressures from market conditions, regulatory requirements, and banks' operational needs [5][6]. Group 3: Future Directions for Credit Card Business - The credit card market is facing saturation and a shift in payment tools, prompting banks to optimize their structures and reduce costs, indicating that the trend of reducing credit card benefits or discontinuing products will likely continue [7]. - Future development in the credit card sector is expected to focus on full-scenario integration, deepening user engagement, and leveraging technology for digital operations and management [7].

Group 1 - The core viewpoint is that commercial banks are increasingly shutting down credit card centers, with nearly 30 banks having closed their credit card centers this year [1][5] - The China Banking and Insurance Regulatory Commission has approved the closure of several credit card centers, including those of Bank of Communications and other banks [2][4] - The trend indicates that banks are entering a phase of stock competition in their credit card business, with a shift towards optimizing resources and enhancing core competitiveness [6][11] Group 2 - The credit card business is experiencing a slowdown in growth, with a 5.14% year-on-year decrease in the total number of credit cards and loans issued, totaling 727 million cards by the end of 2024 [8] - Major banks like China Bank and Industrial and Commercial Bank of China have reported declines in credit card issuance and transaction volumes, indicating a challenging market environment [8][10] - The shift towards local operations and the closure of credit card centers are part of a broader strategy to improve customer service and adapt to the digital finance landscape [10][12]