Core Viewpoint - The recent approval for the termination of the Zhengzhou branch of the Bank of Communications' Pacific Credit Card Center reflects a broader trend in the credit card industry, where banks are shifting from a rapid expansion model to a more focused and efficient operational strategy [1][2][3] Group 1: Company Actions - The Bank of Communications' Pacific Credit Card Center has been authorized to cease operations at its Zhengzhou branch and must return its license within 15 working days [1] - This year, nearly 42 branches across major cities such as Beijing, Shanghai, and Shenzhen have been approved for closure, indicating a significant acceleration in institutional adjustments [1] - The bank's management has acknowledged the limitations of its previous centralized operating model for credit card services, which is being replaced by a localized branch-based approach [2] Group 2: Industry Trends - The shift in operational strategy is not unique to the Bank of Communications; other banks like China Minsheng Bank and Guangfa Bank are also closing their credit card centers, indicating a trend towards consolidating operations [2] - The credit card industry is transitioning from a "land grab" phase to a "refined cultivation" phase, focusing on efficiency and resource sharing [2] - As of the first quarter of 2024, the total number of credit cards and combined credit and debit cards issued in China has decreased by 5.14% year-on-year, highlighting a potential contraction in the market [3]