Recent data from the central bank reveals that as of the end of the second quarter of 2026, the total number of credit cards and combined credit-debit cards stood at 677 million, a decline of 10 million from the first quarter and nearly 20 million from the end of the previous year. Interim financial reports from listed banks indicate that most lenders saw their existing credit card portfolios shrink during the first half of the year, though a handful of institutions, including Bank Of China Limited, Postal Savings Bank, and China Merchants Bank, recorded modest growth in card holdings.

On the personnel front, several major banks have welcomed new leadership at their credit card centers this year. In March, He Bo assumed the role of general manager at Bank of Communications' Pacific Credit Card Center, followed by Li Mingdong taking over as general manager of China Merchants Bank's credit card center in June. The latest information from banking human resources circles indicates that the head of Bank Of China's credit card center is also poised for a change.

He Chunsheng, currently the general manager of the credit card center at Bank Of China's head office, has been appointed as the leader of the head office's inspection team. He previously served as deputy general manager of the Chongqing branch, and as deputy executive president, deputy party secretary, and president of BOC Fullerton Community Bank. His qualification for the credit card center general manager role at Bank Of China was approved in June 2025. Xu Haibo, currently deputy general manager of the head office's personal finance department, is slated to take over as the new general manager of the credit card center. Public records show that Xu has extensive management experience across both head office and branch levels, having served as branch manager of Xi'an Yanta Road Sub-branch and Xi'an Free Trade Zone Sub-branch, general manager of the channel management department at the Shaanxi branch, assistant general manager and deputy general manager of the head office's personal digital finance department, team leader for the cross-border scenario project, deputy general manager of the scenario ecosystem and innovation department, and deputy general manager of the personal finance department at the head office.

Banking sources also indicate that Wu Jinmei, vice president of BOC Wealth Management, has been transferred to serve as a member of the party committee at Bank Of China's credit card center. Wu holds a master's degree and previously worked as a product development supervisor in the investment banking and asset management department of Bank Of China, later serving as general manager of the product and system development department and general manager of the operations management department at BOC Wealth Management. She became a party committee member of BOC Wealth Management in December 2019 and assumed the role of vice president in April 2020.

The credit card center is a direct subsidiary of Bank Of China's head office, located in Beijing's Xicheng District with over 400 employees. It is responsible for the overall management and specialized operations of the bank's credit card business, covering business management, product development, brand marketing, risk control, and centralized back-office operations, with services spanning card issuance, acquiring, and consumer installment lending. According to the bank's official website, in 1985, Bank Of China's Zhuhai branch issued the first credit card in mainland China, the BOC Credit Card. Over more than four decades, the bank has continuously advanced innovation in products, services, scenarios, and technology, establishing an extensive global service network and a deep customer base.

Currently, the domestic credit card industry is undergoing a deep adjustment cycle marked by shrinking stock and structural optimization. Bank Of China's credit card business is gradually shifting from scale expansion to quality and efficiency improvement. In the first half of this year, Bank Of China's credit card spending reached RMB 535.256 billion, an increase of RMB 5.697 billion compared to the same period last year, representing a modest year-on-year rise of 1.07%. The bank stated during its earnings briefing that it has been implementing policies to boost consumption, launching payment discount campaigns across multiple consumption scenarios, and introducing themed credit cards focused on business travel and cultural tourism, along with supporting benefit activities.

As of the end of June 2026, Bank Of China's cumulative credit card issuance reached 151.8578 million cards, up 1.7603 million from the end of the previous year and 3.3443 million from the same period last year. Despite growth in card numbers, the scale of credit is still contracting. By the end of June, Bank Of China's credit card loan balance stood at RMB 449.195 billion, down RMB 36.810 billion from the end of 2025, a decrease of 7.57%, with its share of total bank loans falling to 1.82%. Asset quality in the credit card sector continues to face pressure. As of the end of June, Bank Of China's non-performing loan balance was RMB 10.636 billion, with a non-performing loan ratio of 2.37%, up 19 basis points from the end of the previous year. Asset quality varies significantly among the major state-owned banks, with Postal Savings Bank maintaining a low credit card non-performing ratio of 1.45%, while ICBC's has climbed to 5.37%.

Amid the stock competition, small and medium-sized banks have been streamlining redundant online and offline channels in recent years, returning to the core of financial services. They are shutting down or merging credit card apps into their primary mobile banking platforms, closing credit card sub-centers in other regions, and shifting from vertical management to localized operations. On June 30, 2026, Bank Of China's standalone credit card app, "Colorful Life," officially ceased all services, making it the first major state-owned bank to shut down its independent credit card app, with related functions and services migrated to the main "Bank of China" application. Postal Savings Bank also announced in August that its credit card app will terminate all services as of 24:00 on November 25, 2026.