This year marks the 30th anniversary of reform and opening up. Since 1979, the development of China's credit card market has gone through nearly 30 years, almost in step with the national reform. Since 1985 issued the first credit card "BOC Great Wall Card", the number of credit cards issued in China has exceeded the historical record of nearly1300,000. The development of China's credit cards can also be roughly divided into three stages: one is the introduction and development period of credit cards from 1979 to 1995, the other is the slow adjustment period from 1995 to 1999, and the third is the fierce competition period from 1999 to now. ■ 1979 China Bank Guangdong Branch signed an agreement with the Bank of East Asia to start acting as an agent for foreign credit cards, and credit cards have since entered Chinese mainland. 198 1 year, internationally renowned credit cards such as federal cards and American cards entered China one after another. ■ 1985 "BOC Card" issued by China Bank, Guangdong Zhuhai Branch is the earliest credit card issued by domestic banks. 1986 Bank of China Beijing Branch issued the "Great Wall Card". 1988, BOC took the lead in issuing credit cards nationwide, named "Great Wall Credit Card". In the next year or two, ICBC, CCB and ABC gradually began to issue. The credit card market in China began to appear. ■ After the promotion of credit cards in China, due to the lack of advanced network technology support, the ability to prevent risks is very weak, and the business is completely operated by bank employees. If a credit card holder wants to spend a lot of money, he only needs the authorization of the relevant bank personnel. Therefore, in the economic overheating of 1992- 1995, except for a few malicious overdrafts, many individuals and enterprises that do not meet the conditions of bank loans have withdrawn hundreds of billions of funds from banks by means of credit cards through their relationships with authorized personnel of the bank card department. There are also some banks that deliberately violated the rules for various purposes, bypassed the credit supervision department, and used credit cards to invest heavily, which contributed to the loss of control of state financial funds at that time. ■ 1996, the central bank promulgated the Measures for the Administration of Credit Cards, which completely put an end to "agreed overdraft" and "overdraft convenience", but basically blocked the credit function of credit cards, and credit cards could hardly be used for credit consumption. In the following years, financial electronization became a craze, and all walks of life were increasing network infrastructure. "Debit card" came into being on the network platform, and it is favored by banks for its advantages of convenient application, national access (through the network), merchants' consumption and no risk. All banks basically stopped issuing credit cards and promoted debit cards instead, and the credit card business went into hibernation. During this period, only Guangfa Bank insisted on exploring without the policy support of the central bank, and took the lead in launching the real credit card from 65438 to 0995 in China.