A number of agricultural commercial banks in Zhejiang recently announced that they will stop issuing Fengshou Jingdong co-branded cards. This marks that the bank's credit card business has entered a period of deep adjustment. In recent years, measures such as stopping issuing co-branded cards, integrating credit card apps, and closing offsite branch centers indicate that the banking industry is shifting from scale expansion to cost reduction and efficiency. Major state-owned banks and joint stock banks have also joined the ranks of adjustments and stopped issuing various co-branded cards to focus on high-value consumption scenarios. In terms of channels, banks achieve “separation” by integrating online apps and offline sub-centers to reduce management costs. The reason behind these adjustments is that credit card business performance is under pressure, and the number of cards issued has declined for three consecutive years. In the future, banks may shift from scale orientation to value orientation to find new room for growth.

A number of agricultural commercial banks in Zhejiang recently announced that they will stop issuing Fengshou Jingdong co-branded cards. This marks that the bank's credit card business has entered a period of deep adjustment. In recent years, measures such as stopping issuing co-branded cards, integrating credit card apps, and closing offsite branch centers indicate that the banking industry is shifting from scale expansion to cost reduction and efficiency. Major state-owned banks and joint stock banks have also joined the ranks of adjustments and stopped issuing various co-branded cards to focus on high-value consumption scenarios. In terms of channels, banks achieve “separation” by integrating online apps and offline sub-centers to reduce management costs. The reason behind these adjustments is that credit card business performance is under pressure, and the number of cards issued has declined for three consecutive years. In the future, banks may shift from scale orientation to value orientation to find new room for growth.