China Credit Card Accounts Fall to 687 Million After 14 Straight Quarters of Decline
Updated
Updated · South China Morning Post · May 25
China Credit Card Accounts Fall to 687 Million After 14 Straight Quarters of Decline
1 articles · Updated · South China Morning Post · May 25
687 million credit card accounts were recorded in China in Q1 2026, down 9 million from the previous quarter and extending the slide to a 14th straight quarter.
807 million was the peak reached in September 2022, leaving the total about 15% lower as consumers rein in spending amid a weak economy.
Chinese lenders are feeling the strain from that pullback in demand while also facing rising non-performing loans, according to analysts.
1.9 trillion yuan in average 2025 credit-card transaction value at 12 listed banks shows card use remains large even as account numbers keep shrinking.
As Chinese consumers abandon credit cards, can the new 'emotional economy' truly save its retail sector?
As millions drop credit cards for digital yuan, is China's real goal to challenge the US dollar's global power?
If China's bad bank loans are ten times the official figure, is a hidden financial crisis already unfolding?