大行五年期定期存款利率已低于一线城市商品房租金房价比 金十数据5月20日讯，中国银行、工商银行、建设银行等国有大行于5月20日下调人民币存款利率，其中 三年期和五年期均下调25个基点，分别至1.25%和1.3%。记者从中指研究院获取的最新数据显示，2025 年4月，北上广深四个一线城市租金房价比分别为1.49%、1.68%、1.63%、1.49%。租金房价比主要是衡 量租金收益的重要指标。 （21财经） ...

5月20日早盘，中证A500指数小幅高开，截至9：44，涨0.24%，热门ETF中，A500ETF基金 （512050）盘中成交额快速突破1.5亿元，位居同类前列。持仓股中，华海药业、泰格医药等医药股领 涨。 资金流向看，近10个交易日，A500ETF基金（512050）获得资金净流入5.8亿元。 消息面上，5月20日，备受市场关注的5月LPR报价出炉，5年期和1年期利率均下调10BP。5月20日 周二，中国人民银行授权全国银行间同业拆借中心公布，中国1年期贷款市场报价利率（LPR）最新报 3.00%，上次为3.10%；5年期LPR报3.50%，上次为3.60%。此外，工商银行、农业银行、中国银行、建 设银行四大国有行均发布消息，下调人民币存款利率，最大降幅25个基点。其中活期利率下调5个基点 至0.05%；定期整存整取三个月期、半年期、一年期、二年期均下调15个基点，分别为0.65%、0.85%、 0.95%、1.05%；三年期和五年期均下调25个基点，分别至1.25%和1.3%。 每日经济新闻 （责任编辑：张晓波 ） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立， ...

Market Overview - The Shanghai Composite Index closed at 3367.58 points, while the Shenzhen Component Index fell by 0.08% to 10171.09 points, and the ChiNext Index decreased by 0.33% to 2032.76 points. The total trading volume across the Shanghai, Shenzhen, and North exchanges was approximately 111.91 billion yuan, consistent with the previous day [1] Cement Industry - The cement industry is projected to incur a total profit loss of 1 billion yuan in the first half of 2024. However, as the year progresses, the industry is expected to see a recovery in cement prices, with average prices forecasted at 390 yuan/ton in Q3 and 424 yuan/ton in Q4, reflecting increases of 15 yuan/ton and 34 yuan/ton respectively. This price recovery is anticipated to significantly improve the profitability of cement companies [2] Liquid Crystal Elastomers (LCEs) - Liquid crystal elastomers are gaining traction due to their unique deformation capabilities and reversibility, finding applications in actuators, sensors, and artificial muscles. Recent research indicates that the performance of LCEs has reached or surpassed that of biological muscles, with properties such as density and Young's modulus comparable to muscle fibers. The ongoing advancements in LCE technology are expected to drive growth in the liquid crystal industry [3] Tungsten Market - Tungsten is recognized as a critical strategic resource, with its price rising to 161,000 yuan/ton, the highest since 2013, due to supply constraints and supportive policies. The demand for tungsten, particularly in hard alloys used for cutting tools, is expected to improve significantly, driven by the recovery in downstream industries such as machinery and aerospace. Additionally, China's export controls on tungsten are likely to enhance its strategic importance in the global market [4] Banking Sector - Several banks, including China Construction Bank and Industrial and Commercial Bank of China, have announced reductions in deposit rates, with the most significant cuts being 25 basis points for three-year and five-year fixed deposits [6] Technology Services - A new initiative by nine government departments aims to accelerate the high-quality development of the technology services industry, focusing on areas such as research and development, technology transfer, and enterprise incubation. This initiative is expected to promote the integration of advanced technologies and enhance the overall growth of the sector [6] Huawei's New Product Launch - Huawei has launched its first Harmony OS foldable laptop, the MateBook Fold, which features the largest foldable screen in the industry. This marks the official debut of the Harmony operating system on computers [7][8]

Investment Rating - The report maintains a "Positive" investment rating for the banking sector [12] Core Insights - The Yangtze Bank Index increased by 1.5% this week, outperforming the CSI 300 Index by 0.3% and the ChiNext Index by 0.1%. The recent public fund regulations are expected to drive long-term fund allocations towards the banking sector, which has been underrepresented compared to its weight in the CSI 300 [2][6] - The report highlights that the average dividend yield of the five major state-owned banks in A-shares is 4.47%, with a significant spread of 279 basis points over the 10-year government bond yield. The H-shares have an even higher average dividend yield of 5.77%, indicating a notable valuation discount compared to A-shares [7][22] - In April, new social financing totaled 1.16 trillion yuan, primarily driven by government bonds, while new RMB loans were only 280 billion yuan, reflecting a year-on-year decrease of 450 billion yuan. The report anticipates a continuation of weak credit issuance in May, with banks expected to increase lending intensity by the end of June [8][29] - The report notes a significant decline in net interest margins for commercial banks, with an overall decrease of 9 basis points to 1.43% in Q1 2025. State-owned banks saw a drop of 11 basis points to 1.33%, marking a historical low, while city commercial banks performed better due to lower mortgage ratios and strong local credit demand [9][39] Summary by Sections Market Performance - The Yangtze Bank Index's performance this week indicates a positive trend, with specific banks like Ruifeng Bank leading the gains [2][6] Dividend Yields and Valuation - The report emphasizes the attractive dividend yields of state-owned banks compared to government bonds, suggesting potential investment opportunities in H-shares due to their valuation discount [7][22] Credit and Financing Trends - April's financing data shows a reliance on government bonds for social financing growth, with a notable decline in new loans, indicating a cautious lending environment [8][29] Banking Sector Profitability - The decline in net interest margins across the banking sector highlights challenges in profitability, particularly for state-owned banks, while city commercial banks show resilience [9][39]

每经编辑｜杜宇 5月20日早间，多家主要银行下调存款利率后，贷款市场报价利率（LPR）下行。 据中国人民银行网站5月20日消息，5月20日，新一期贷款市场报价利率（LPR）出炉，1年期和5年期以上LPR双双下降10个基点。1年期LPR降至3%，5年期 以上LPR降至3.5%。 | | | | 中国人民银行 | | 货币政策司 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | THE PEOPLE'S BANK OF CHINA | | Monetary Policy Department | | | | | 信息公开 | 新闻发布 | 法律法规 | 货币政策 | 宏观审慎 | 信贷政策 | 金融市场 | 金融稳定 | 调 | | | 金融科技 | 人民币 | 经理国库 | 国际交往 | 人员招录 | 学术交流 | 征信管理 | 反 | | 服务互动 | 政务公开 | 政策解读 | 公告信息 | 图文直播 | 央行研究 | 音频视频 | 市场动态 | bed | | | 网送文告 | 办事大厅 | 在线申报 | 下载中 ...

Core Points - The six major state-owned banks and China Merchants Bank announced a reduction in the RMB deposit rates effective from May 20, 2025 [1][2] - The adjustment includes a decrease in the interest rate for demand deposits from 0.1% to 0.05%, a reduction of 5 basis points [1] - Fixed-term deposit rates for various terms have been lowered, with 3-month, 6-month, 1-year, and 2-year rates reduced from 0.8%, 1%, 1.1%, and 1.2% to 0.65%, 0.85%, 0.95%, and 1.05% respectively, a decrease of 15 basis points [1] - The 3-year and 5-year fixed-term deposit rates have been reduced from 1.5% and 1.55% to 1.25% and 1.30%, a decrease of 25 basis points [1] - Other deposit products such as zero deposit and fixed deposit with interest withdrawal have also seen a reduction in rates, with 1-year, 3-year, and 5-year rates adjusted from 0.8% and 1% to 0.65% and 0.85% respectively [1] - Postal Savings Bank's 6-month and 1-year fixed deposit rates differ from the other five banks, decreasing from 1.01% and 1.13% to 0.86% and 0.98% respectively, maintaining a 15 basis point reduction [2] Summary by Category Demand Deposits - Demand deposit rates for the six major banks and China Merchants Bank decreased from 0.1% to 0.05%, a reduction of 5 basis points [1] Fixed-term Deposits - 3-month, 6-month, 1-year, and 2-year fixed-term deposit rates reduced from 0.8%, 1%, 1.1%, and 1.2% to 0.65%, 0.85%, 0.95%, and 1.05% respectively, a decrease of 15 basis points [1] - 3-year and 5-year fixed-term deposit rates reduced from 1.5% and 1.55% to 1.25% and 1.30%, a decrease of 25 basis points [1] Other Deposit Products - Rates for zero deposit, fixed deposit with interest withdrawal for 1-year, 3-year, and 5-year periods adjusted from 0.8% and 1% to 0.65% and 0.85% respectively [1] - Postal Savings Bank's rates for 6-month and 1-year fixed deposits adjusted from 1.01% and 1.13% to 0.86% and 0.98%, maintaining a 15 basis point reduction [2]

Core Viewpoint - The People's Bank of China (PBOC) announced a 10 basis points reduction in the Loan Prime Rate (LPR) on May 20, marking the first interest rate cut of the year, which is expected to lower the overall financing costs for the real economy and stabilize the net interest margin of commercial banks [1][9][10]. Summary by Sections Interest Rate Changes - The LPR was reduced from 3.0% to 2.9% for first-time homebuyers, which translates to a total interest savings of approximately 38,600 yuan over a 30-year mortgage for a loan of 2 million yuan [1][3]. - Multiple banks, including China Construction Bank, China Merchants Bank, Industrial and Commercial Bank of China, and Agricultural Bank of China, have announced reductions in deposit rates, with the most significant cuts being 15 basis points for various term deposits [5][6][7][8]. Impact on Financing Costs - The reduction in LPR and deposit rates is expected to further decrease the comprehensive financing costs for the real economy, thereby reinforcing the economic fundamentals [3][10]. - The PBOC's adjustment of the 7-day reverse repurchase rate from 1.50% to 1.40% is anticipated to influence various market rates, including the LPR and deposit rates, promoting consumption and investment [9][10]. Banking Sector Response - The banking sector is responding to the PBOC's policy changes, with state-owned banks typically leading the way in adjusting deposit rates, followed by joint-stock and smaller banks [10]. - The net interest margin of commercial banks has been under pressure, declining to 1.43% in the first quarter of this year, which is below the regulatory acceptable level of 1.80% [10].

中国建设银行 于5月20日下调了人民币存款利率，其中活期利率下调5个基点至0.05%；定期 整存整取三个月期、半年期、一年期、二年期均下调15个基点，分别为0.65%、0.85%、 0.95%、1.05%；三年期和五年期均下调25个基点，分别至1.25%和1.3%。定期零存整 取、整存零取、存本取息三种期限均下跌15个基点。7天期通知存款利率下调15个基点至 0.3% 中国工商银行 于5月20日下调人民币存款利率，其中活期利率下调5个基点至0.05%；定期整 存整取三个月期、半年期、一年期、二年期均下调15个基点，分别为0.65%、0.85%、 0.95%、1.05%；三年期和五年期均下调25个基点，分别至1.25%和1.3%。定期零存整 取、整存零取、存本取息三种期限均下跌15个基点。7天期通知存款利率下调15个基点至 0.3%。 | < | 存款利率 | 8 | | --- | --- | --- | | 存期 | | 年利率(%) | | 活期 | | | | 活期 | | 0.05 | | 整存整取 | | | | 三个月 | | 0.65 | | 非年 | | 0.85 | | 年 | | 0.95 ...

④中国建设银行于5月20日下调了人民币存款利率，其中活期利率下调5个基点至0.05%；定期整存整取 三个月期、半年期、一年期、二年期均下调15个基点，分别为0.65%、0.85%、0.95%、1.05%；三年期 和五年期均下调25个基点，分别至1.25%和1.3%。定期零存整取、整存零取、存本取息三种期限均下跌 15个基点。7天期通知存款利率下调15个基点至0.3%。 ⑤招商银行下调人民币存款利率，其中活期利率下调5个基点至0.05%；定期整存整取三个月期、半年 期、一年期、二年期均下调15个基点，分别为0.65%、0.85%、0.95%、1.05%；定期整存整取三年期和 五年期均下调25个基点，分别至1.25%和1.3%。定期零存整取、整存零取、存本取息三种期限均下跌15 个基点。7天期通知存款利率下调15个基点至0.3%。 国有四大行今日均官宣下调存款利率 活期利率下调5个基点至0.05% ②农业银行于5月20日下调人民币存款利率，其中活期利率下调5个基点至0.05%；定期整存整取三个月 期、半年期、一年期、二年期均下调15个基点，分别为0.65%、0.85%、0.95%、1.05%；三年期和五年 期均下 ...

Core Points - Wuhan is preparing to establish a 1 billion yuan sports technology industry fund to accelerate the transformation and upgrading of its sports manufacturing industry, promoting the application of emerging technologies such as big data and artificial intelligence in the sports manufacturing sector [1][5]. Group 1: Industry Growth - Wuhan's sports industry has experienced rapid growth, reaching a total scale of 95.886 billion yuan, with the number of market entities exceeding 14,000, making it an important engine for urban transformation [5]. - The local government is actively exploring financial innovation to develop the event economy and strengthen financial support for the growth of sports market entities [5]. Group 2: Financial Support Initiatives - Over the next five years, Bank of China Hubei Branch will provide 20 billion yuan in special credit support for Wuhan's sports economy, aimed at infrastructure construction, venue operations, and meeting the financing needs of sports service enterprises [5]. - Wuhan has launched the "Bank of China Sports Innovation Loan" as a financial product to support small and micro enterprises in the sports industry, offering low-interest, long-term loans with a maximum credit limit of 10 million yuan [5][6]. - A strategic cooperation agreement was signed between Bank of China Hubei Branch and the municipal sports bureau to collaborate on promoting sports industry development and deepening financial service cooperation [6].