Please answer the following question: Read the following article and select the best answer. Article: China Merchants Bank Co Ltd has teamed up with ride-hailing major Didi Kuaidi to provide automobile financing and expand its reach in China's booming mobile payment industry. The two have inked a comprehensive partnership, which includes a strategic investment by the former in the latter. Under the partnership, CMB will become the first bricks-and-mortar bank that can offer in-app credit card payments to Didi users. At present, users of Didi can only choose third-party payment solutions like WeChat Payment and Alipay to pay cab fares. Zhao Ju, vice-president of CMB, said the cooperation with Didi was an important step in its mobile Internet finance strategy. "CMB's mobile payment is going to enter a new chapter by leveraging Didi Kuaidi's vast user base," he said. According to a report by China Internet Network Information Center earlier this month, Didi holds 87.2 percent of China's private car hailing market. The company said it has received 1.43 billion car-hailing requests on its platforms in 2015, which means 1.43 billion payments were made via smartphones. CMB is expected to use Didi to reach the core users of China's mobile payment market. Jean Liu, president of Didi, said many of the expats prefer payment by credit card rather than Alipay or WeChat. "The new partnership will help improve service quality and customer loyalty," she said. The investment makes CMB part of Didi's existing investors, including Tencent Holdings Ltd, Alibaba Group Holding Ltd and China Investment Corporation. Both of the companies declined to reveal the actual amount of the investment. Liu, who showed up on Tuesday for the first time in public after her treatment for breast cancer, said the cooperation with CMB is for the long run and "the capital investment is only part of it". Under the partnership, CMB and Didi will cooperate on a wide range of initiatives on financial services and online-to-offline cooperation. Apart from the in-app credit card payments, the two companies are going to launch joint credit cards in late... Question: What can be inferred from the passage? - CMB's mobile payment is going to enter a new chapter. - China's traditional banking industry is facing fierce Internet finance competition. - CMB and Didi will have a online-to-offline cooperation. - Mobile payment market is donated by Alibaba and Tencent.
Answer:
China's traditional banking industry is facing fierce Internet finance competition.