Core Insights - The banking industry is currently engaged in a "year-end closing battle" as they strive to meet various performance indicators before the end of the year, with a focus on both year-end results and preparations for the upcoming "opening red" in the first quarter of the next year [2][3][4] Group 1: Current Banking Operations - Bank staff are under pressure to meet various performance metrics, including deposit and loan growth, card openings, and wealth management services, as they approach the end of the year [3][4] - Some banks are experiencing significant pressure to meet targets, leading to a "full-staff marketing war" where even back-office employees are assigned performance indicators [4] - The first quarter's "opening red" is crucial for banks, as a significant portion of annual loan growth (30% to 40%) is typically achieved during this period [4] Group 2: Challenges and Market Conditions - The banking sector is facing challenges due to insufficient effective demand and declining interest rates, leading to a reliance on bill discounting to boost loan volumes [5] - The current environment has led to a phenomenon of "zero interest rates" in the bill market, indicating weak credit demand and prompting banks to increase their bill collection efforts [5] - The competition for quality clients is intensifying, as securing a quality client early in the year can significantly increase the likelihood of continued business with that client [6] Group 3: Issues with Performance Metrics - The focus on year-end performance and "opening red" has revealed issues such as the proliferation of "empty cards" and mutual assistance among bank staff to meet performance targets [7] - Some banks are experiencing a disconnect between loan growth and actual economic demand, leading to risks associated with "funds circulation" and potential declines in business following the year-end push [7] - Regulatory bodies are increasingly emphasizing balanced credit allocation and sustainable growth, leading some banks to reconsider their approach to performance metrics and the importance of "opening red" [8]