Originally Posted by RedSun

I would say very little substance. And there was no "wave" of SDs.

First, in Chinese financial market, very few people use credit cards. Most of the CCs are UnionPay. AmEx CCs in China is insignificant. AmEx actually launched two debits cards in China, with the help of AliPay. AliPay itself is far behind WeChat Pay.

With the above, there is no "premium" credit card market in China. It is unthinkable for some common Chinese consumers to pay like $695 for the Platinum card.

It makes more sense if those SDs were related to the debit cards, for the BG bill payments. Even if there were "waves" of SDs related to those debit card, the impact is insignificant.

From what I know of the BGs and the Chinese financial market, I'd say the previous shut downs had very limited, or little impact. Very few Chinese consumers play the mile and point games.