Core Viewpoint - The China International Import Expo showcased the Bank of Communications' innovative achievements in the cultural and tourism finance sector, emphasizing its role in supporting the development of the cultural tourism industry and enhancing consumer experiences [1][3]. Group 1: Bank Initiatives - The Bank of Communications has established a dedicated service team and launched support programs to promote the "Cultural Tourism Drama" brand, collaborating with various regions to enhance cultural tourism [1]. - The bank aims to deepen its engagement with the cultural tourism industry's funding needs and increase its "beneficial, convenient, and advantageous" services, contributing to the construction of a strong tourism nation [1][3]. Group 2: Industry Development - The Ministry of Culture and Tourism highlighted the critical role of financial empowerment in the cultural tourism industry, advocating for a collaborative ecosystem that integrates culture, technology, and finance [3]. - The "Cultural Tourism Drama Ningxia Station" initiative, launched on August 1, focuses on supporting key cultural tourism projects in Ningxia, creating a "finance + cultural tourism" integrated ecosystem [3]. Group 3: Promotional Activities - During the expo, the bank introduced the "Cultural Tourism Drama" dual-city event, featuring a promotional video showcasing the cultural heritage of Quanzhou and the unique charm of Wuzhong [5]. - The bank has launched various cultural tourism routes and discount activities available through its mobile banking app, enhancing consumer access to financial benefits and travel experiences [5].

Group 1: Banking Sector Performance - A-share listed banks reported stable performance in the first three quarters of the year, showcasing a steady operational trend with notable highlights [1] Group 2: Urban-Rural Integration and Regional Development - The banking sector is actively supporting urban-rural integration and regional coordinated development as part of a significant national strategy [2] - Industrial and Commercial Bank of China (ICBC) has allocated nearly 3.5 trillion yuan in loans for new urbanization projects and over 5 trillion yuan for agricultural loans, with significant investments in poverty alleviation counties [2] - Agricultural Bank of China has increased its loan balance in key rural revitalization counties to 481.2 billion yuan, marking a growth of 10.21%, and in poverty-stricken counties to 2.52 trillion yuan, with a growth of 10.66% [3] Group 3: High-Level Opening Up - The banking sector is contributing to high-level opening up, which is a strategic choice to enhance national security and respond to external uncertainties [4] - Bank of China has been actively involved in the Belt and Road Initiative, maintaining a leading position in the issuance of panda bonds and offshore RMB bonds, with a global custody scale of 4.8 trillion yuan [5] - Construction Bank has enhanced its international competitiveness and supported cross-border e-commerce, with settlement volumes exceeding 400 billion yuan [5] Group 4: Digital Transformation - Digital transformation is a critical focus for banking institutions, with ongoing efforts to enhance digital infrastructure and service efficiency [6] - Bank of Communications has improved its digital service capabilities, achieving significant user engagement with its mobile banking applications and open banking interfaces [7] - Postal Savings Bank is leveraging digital technology to enhance operational efficiency and customer experience through initiatives like remote services and digital personnel [8]

Core Viewpoint - The recent announcement by Bank of China to gradually shut down its "Bountiful Life" app and migrate its functions to the main "Bank of China" app highlights a shift in the credit card app landscape, moving from smaller banks to major state-owned banks amid a backdrop of declining credit card business and cost-cutting measures in the banking industry [1][5][17]. Summary by Sections Credit Card App Shutdown - Bank of China announced the gradual shutdown of its "Bountiful Life" app, which will have all its functions transferred to the main "Bank of China" app [1]. - This trend of shutting down credit card apps is not new, as several banks, including Shanghai Rural Commercial Bank and Beijing Rural Commercial Bank, have previously made similar moves [5]. Market Dynamics - The credit card app market is experiencing increasing differentiation, with a clear ranking in monthly active users [7]. - As of June 2025, the top 20 credit card apps include 5 state-owned banks, 9 joint-stock banks, and 2 city commercial banks, with the highest monthly active users exceeding 14 million for several apps [7][8]. - Bank of China's "Bountiful Life" app had only 1.55 million monthly active users, ranking 13th among state-owned bank credit card apps [7][9]. Credit Card Loan Scale - State-owned banks maintain a significant advantage in credit card loan scales, with China Construction Bank being the only bank with a credit card loan scale exceeding 1 trillion yuan, reaching 1,054.95 billion yuan as of June [10][11]. - Other major state-owned banks also report credit card loan scales above 500 billion yuan, while joint-stock banks like China Merchants Bank show strong performance with a credit card loan balance of 924.49 billion yuan [10][11]. User Engagement and Competition - The focus of credit card apps has shifted from acquiring new customers to retaining existing ones, as many consumers already hold multiple credit cards [14][15]. - The competition for user engagement is intensifying, with various lifestyle service apps entering the market, making it challenging for credit card apps to attract new users [15][19]. Operational Efficiency - The closure of independent credit card apps reflects a broader trend towards centralized management of banking channels [17]. - Regulatory guidance has prompted banks to streamline their mobile applications, focusing on user engagement and operational efficiency [18][19].

Core Viewpoint - The recent announcement by the Bank of China to gradually shut down its "Bountiful Life" app and migrate its functions to the main "Bank of China" app highlights a shift in the credit card app landscape, moving from smaller banks to major state-owned banks amid a backdrop of declining credit card business and cost-cutting measures in the banking industry [1][4]. Group 1: Credit Card App Landscape - The credit card apps have traditionally served two main purposes: connecting online and offline channels for customer acquisition and creating a digital tagging system for user behavior analysis [4][9]. - The closure of the "Bountiful Life" app follows similar actions by other banks, indicating a trend where standalone credit card apps are becoming less viable due to shrinking credit card business [4][10]. - As of June 2025, the "Bountiful Life" app had a monthly active user count of 1.5454 million, ranking 13th among state-owned bank credit card apps, significantly lower than leading apps with over 14 million users [5][6]. Group 2: Market Dynamics and Competition - The credit card market is experiencing increasing differentiation, with major banks like China Construction Bank leading in credit card loan scale, having surpassed 1 trillion yuan in loans [7][8]. - The competitive landscape for credit card apps is intensifying, with many banks focusing on retaining existing customers rather than acquiring new ones, as many consumers already hold multiple credit cards [10][11]. - The top credit card apps are increasingly integrated into lifestyle services, making it challenging for standalone credit card apps to compete for user attention in a saturated market [9][10]. Group 3: Operational Changes in Banking - The closure of independent credit card apps reflects a broader trend in the banking industry towards centralized management of mobile applications, as mandated by regulatory guidelines [12][13]. - Major banks are restructuring their digital operations, establishing dedicated centers to streamline app management and enhance user experience, which is expected to improve operational efficiency [12][13].