PBOC: Credit Card Count Drops by 10 Million in Q2

The People's Bank of China reported that the number of credit cards and combined credit/debit cards in China fell by approximately 10 million in the second quarter of 2026, totaling 677 million. This marks a cumulative reduction of 130 million cards from the historical peak in 2022. Mid-year reports from major listed banks indicate a decline in credit card overdraft balances and rising non-performing loan ratios for several institutions, including ICBC and China Merchants Bank.