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And now, an unintended consequence of shutting down the economy: a coin shortage.

Analysts expected the PBOC to cut the LPR by 20 basis points, or 0.2 percentage points, later this month, to guide a further reduction of financing costs for smaller companies. The one-year LPR now is at 4.05 percent.

An said the collection of data allows for greater convenience in the use of public services and can prevent scams or embezzlement. The chip used in the card uses advanced technology and can effectively protect personal data from being leaked or stolen.

And the company had reached last year's total expected volume in the first 10 months.

Analysts said that Chinese banks, especially small and medium-sized lenders, are under great pressure because they are less capable of bearing risk when facing economic downsides. They also face higher standards of regulatory metrics, especially regarding nonperforming loan and capital adequacy ratios.