Group 1 - The core viewpoint of the article is that several banks in China have announced a reduction in RMB deposit rates, following a trend initiated by major state-owned banks, which is linked to the recent decrease in the Loan Prime Rate (LPR) [1][4][5] Group 2 - On May 20, six state-owned banks and several others, including China Merchants Bank and China Everbright Bank, announced a reduction in RMB deposit rates, with the adjustment range being 5 to 25 basis points [1] - Following this, on May 21, seven additional banks, including Ping An Bank and CITIC Bank, also announced similar reductions, with the new rates for demand deposits set at 0.05% and various fixed-term deposit rates adjusted accordingly [1][2] - The new fixed-term deposit rates for three months, six months, one year, two years, three years, and five years are 0.7%, 0.95%, 1.15%, 1.20%, 1.30%, and 1.35% respectively [1] - The recent LPR adjustments include a decrease in the 5-year LPR to 3.5% and the 1-year LPR to 3%, both down by 0.1% from the previous month [4] - The reduction in deposit rates is expected to lead to an overall decrease in deposit rates by approximately 0.11 to 0.13 percentage points, which may help stabilize banks' net interest margins [4][5] - As of the first quarter of 2025, the net interest margin for commercial banks was reported at 1.43%, a decrease of 0.09 percentage points, marking a historical low [5]

Core Viewpoint - The recent reduction in deposit rates by nine joint-stock banks follows the earlier actions of the six major state-owned banks, indicating a broader trend in the banking sector to lower interest rates in response to the People's Bank of China's (PBOC) adjustments to the Loan Prime Rate (LPR) [1][3][6] Group 1: Deposit Rate Adjustments - On May 21, seven joint-stock banks announced a reduction in their deposit rates, with a decrease of 15 basis points for 3-month, 6-month, 1-year, and 2-year fixed deposits, and a reduction of 25 basis points for 3-year and 5-year fixed deposits [1][2] - Specific rates for China Merchants Bank were adjusted to 0.95% for 1-year, 1.05% for 2-year, 1.25% for 3-year, and 1.30% for 5-year deposits, while other banks set their rates at 1.15%, 1.20%, 1.30%, and 1.35% respectively for similar terms [1][2] Group 2: LPR and Monetary Policy - The PBOC announced a decrease in the LPR, with the 1-year LPR at 3% and the 5-year LPR at 3.5%, both down by 10 basis points [3] - Analysts suggest that the PBOC is establishing a transmission mechanism from policy rates to LPR and deposit rates, indicating a coordinated approach to monetary policy [3][4] Group 3: Market Implications - The reduction in deposit rates is expected to enhance the attractiveness of bond assets by lowering the yield advantage of loan assets, thereby improving the configuration value of bonds [3][4] - The larger reduction in deposit rates compared to LPR is seen as a measure to protect bank interest margins while encouraging credit growth [6]

中经记者 慈玉鹏 北京报道 继5月20日国有六大行以及招商银行、光大银行宣布下调存款利率后，《中国经营报》记者统计发现，5 月21日又有七家股份行再次跟进下调存款利率，其中长期存款利率下调幅度大于短期。 记者注意到，截至目前，九家股份制银行普遍对六个月、一年期、二年期定存挂牌利率下调15个基点， 三年期、五年期定存挂牌利率普遍下调25个基点。其中长期存款利率下调幅度更大。 同时，除招商银行与五大行保持一致外，其余8家股份制银行整存整取一年期、三年期、五年期挂牌利 率分别降至1.15%、1.3%、1.35%。 或推动"存款搬家" 东方金诚首席宏观分析师王青表示："截至2025年4月末，活期存款占比34.5%，此次六大行下调存款利 率并带动其他商业银行跟进调整后，或将带动整体存款利率下调0.11—0.13个百分点左右，基本能够覆 盖本次LPR报价下调带动各类贷款利率下行对银行资产端收益的影响，稳定银行净息差。" 从影响看，王青表示，最新数据显示，2025年一季度商业银行净息差为1.43%，较上季度下行0.09个百 分点，再创历史新低，且已明显低于1.8%的警戒水平。本次LPR报价下调带动银行存款利率同步下调， 在 ...

Group 1 - The 21st China (Shenzhen) International Cultural Industries Fair will be held from May 22 to 26, with a significant "policy package" to support six key areas for high-quality cultural industry development [2] - The European Union plans to impose handling fees on small packages entering the EU, with China's Ministry of Foreign Affairs advocating for a fair and transparent business environment for Chinese enterprises [2] - China and the ten ASEAN countries have completed negotiations for the China-ASEAN Free Trade Area 3.0, adding nine new chapters including digital economy and green economy [2] Group 2 - International gold prices rebounded on May 21, with domestic gold jewelry prices surpassing 1,000 yuan per gram, with notable increases from major retailers [3] - Several banks, including Ping An Bank and CITIC Bank, have lowered deposit rates, particularly for medium- and long-term deposits, with some banks suspending five-year term deposits [3] - A surge in A-share buyback and increase plans has been observed, with 394 companies announcing such plans since the second quarter of 2025, a rise of over 60% compared to the first quarter [3] Group 3 - The Hong Kong Hang Seng Index closed up 0.62%, with BYD shares rising over 4% to a new historical high, and southbound funds net buying exceeding 1.4 billion HKD [4] - UBS noted a growing international interest in Chinese assets, highlighting the strategic importance of the Chinese stock market for global investors seeking excess returns [4] Group 4 - Baidu reported Q1 revenue of 32.452 billion yuan, a 3% year-on-year increase, with a notable 42% growth in Baidu Smart Cloud [5] - Xpeng Motors achieved Q1 revenue of 15.81 billion yuan, a 141.5% year-on-year increase, with a projected delivery volume of 102,000 to 108,000 units in Q2 [5] - Weibo's Q1 revenue remained stable at 396.9 million USD, with a 12% year-on-year increase in adjusted net profit [5] Group 5 - The stock price for Naxin Microelectronics was set at 163.15 yuan per share, with a subscription rate of 1.29 times from institutional investors [6] - The U.S. stock market saw declines across major indices, with significant drops in Chinese concept stocks such as iQIYI and Baidu [6]

【深圳商报讯】（首席记者谢惠茜）就在今年首次LPR下调当天，六大国有银行也集体宣布下调存款利 率，这是国有大行今年首轮存款降息。其中，各家国有银行活期存款利率下调至0.05%，1年期整存整 取定期存款利率均跌破"1字头"，下调至0.95%。随后，多家股份行也纷纷"跟进"。 5月21日，截至记者发稿时，已有9家股份制银行跟进下调了存款挂牌利率。除了招商银行已于5月20日 下调之外，平安银行、中信银行、兴业银行、光大银行、浦发银行、民生银行、广发银行、华夏银行共 8家股份制银行均已于5月21日开始执行新的存款挂牌利率。 具体来看，上述8家股份制银行将1年、2年定期利率均调降了15个基点。其中，1年定期存款利率均下调 至1.15%；2年定期存款利率普遍下调至1.20%，民生银行下调至1.15%。3年、5年定期存款利率均下调 了25个基点，分别下调至1.30%、1.35%。 苏商银行特约研究员武泽伟接受记者采访时表示，此次国有大行和股份行集中下调存款利率是政策引导 与市场联动的结果。一方面，央行通过下调LPR，释放适度宽松的政策信号，要求通过利率自律机制引 导商业银行跟进；另一方面，银行主动调整负债成本以缓解净息差压 ...

Core Viewpoint - Nine joint-stock banks in China have followed state-owned banks in rapidly lowering deposit interest rates, focusing on medium to long-term deposits, particularly three-year and five-year terms [2][4][5] Group 1: Deposit Rate Adjustments - As of May 21, seven banks including Ping An Bank and CITIC Bank have announced reductions in deposit rates, with three-year and five-year fixed deposit rates lowered by 25 basis points (BP) [2][4] - The adjusted rates for Ping An Bank are now 0.70% for three months, 0.95% for six months, 1.15% for one year, 1.20% for two years, and 1.30% for three years, reflecting a decrease of 15 BP for shorter terms and 25 BP for longer terms [3][4] - Minsheng Bank has also reduced its deposit rates, with similar decreases across various terms, including a 25 BP drop for three-year and five-year deposits [3][4] Group 2: Market Expectations and Reactions - Investors had anticipated the recent reductions in deposit rates, with no significant rush to lock in rates observed at bank branches [4][5] - The speed of the banks' responses to the need for lower deposit rates aligns with market expectations, indicating a proactive approach to stabilize net interest margins and support the real economy [5][6] Group 3: Implications for Banking Sector - The adjustments in deposit rates are seen as necessary to reduce financing costs for the real economy, with banks needing to lower their liability costs to maintain profitability [5][8] - The current trend shows that the reductions in deposit rates are larger than the Loan Prime Rate (LPR) decreases, which may help banks manage interest expenses and improve their financial performance [8]

Core Viewpoint - The recent trend of financial institutions, including banks and insurance companies, to abolish supervisory boards reflects a significant reform in corporate governance, driven by changes in the Company Law of the People's Republic of China [1][6][12]. Group 1: Abolishment of Supervisory Boards - Changsha Bank has decided to abolish its supervisory board, transferring its functions to the audit committee of the board of directors [1]. - Many financial institutions, including major state-owned banks and insurance companies, are following suit, indicating a broader shift in governance practices [1][6]. - The new Company Law allows limited liability companies to establish an audit committee within the board of directors to perform the functions of a supervisory board, thus eliminating the need for a separate supervisory board [6][9]. Group 2: Regulatory Changes and Implications - The National Financial Regulatory Administration has issued new regulations that allow trust companies to set up audit committees within their boards, further promoting the idea of eliminating supervisory boards [2][6]. - The changes aim to enhance operational efficiency by reducing redundancy in oversight functions, as the roles of supervisory boards and audit committees often overlap [2][8]. - The flexibility provided by the new governance structure is expected to lead to more tailored governance models that suit the specific needs of different financial institutions [9][10]. Group 3: Impact on Corporate Governance - The shift to a single-tier governance model allows boards to exercise oversight more directly, potentially improving decision-making efficiency in a rapidly changing financial environment [9][10]. - Smaller financial institutions may benefit from reduced operational costs by not having a supervisory board, while larger institutions may require more complex oversight mechanisms [9][10]. - The transition to audit committees taking on supervisory roles is seen as a way to innovate governance structures and improve compliance management [10][12]. Group 4: Concerns and Future Considerations - There are concerns regarding the effectiveness of audit committees in fulfilling the oversight roles traditionally held by supervisory boards, particularly regarding potential conflicts of interest [11][12]. - Experts suggest that while the new structure may reduce costs, it is crucial to ensure that adequate checks and balances remain in place to maintain effective governance [11][12]. - Future modifications to the Company Law may be necessary to address the evolving needs of corporate governance in the financial sector [12].

Core Viewpoint - The recent adjustment of deposit rates by major banks marks the seventh round of rate cuts, significantly lowering the cost of bank liabilities and stabilizing profit margins, which is expected to enhance the banks' internal growth capabilities and maintain sound operations [4][7]. Group 1: Deposit Rate Adjustments - As of May 21, nine joint-stock banks have announced adjustments to their deposit rates, following the lead of the six major state-owned banks [5]. - The new rates include a 5 basis point reduction in demand deposit rates and a 15-25 basis point reduction in time deposit rates, with the one-year fixed deposit rate falling below 1% [3][5]. - The current demand deposit rate is now close to zero, and the one-year fixed deposit rate has been set at 1.15% for most banks [5][6]. Group 2: Impact on Banking Sector - The reduction in deposit rates is expected to lower banks' funding costs, thereby stabilizing net interest margins and enhancing their ability to support the real economy [8][12]. - Analysts suggest that the ongoing low interest rate environment may lead to a shift in deposits from large banks to smaller banks, which could affect the competitive landscape [8][12]. - The overall banking sector is entering a low interest rate and low spread cycle, with net interest margins for various types of banks showing a downward trend [10][12]. Group 3: Future Outlook - The adjustments in deposit rates are anticipated to lead to a decrease in overall deposit rates by approximately 0.11-0.13 percentage points, which may help stabilize banks' net interest margins [13]. - Despite the downward pressure on net interest margins, it is expected that the decline will not continue indefinitely, as measures to control funding costs are taking effect [12][13]. - The shift in deposit rates may also influence the allocation of bank assets towards bonds, potentially increasing demand in the bond market [8][13].

Core Viewpoint - The event "Encountering Yunnan, Strolling in Tengchong" organized by Huaxia Bank's Shijiazhuang branch successfully combined natural scenery, cultural experiences, and professional financial services, showcasing the bank's commitment to customer-centric service [1]. Group 1 - The event included a multi-day itinerary starting in Kunming, featuring cultural immersion in Dali with its Bai ethnic charm and historical architecture [3]. - In Tengchong, the spectacular Hot Sea and the serene North Sea Wetland provided customers with a unique experience of nature's beauty [5]. Group 2 - A carefully prepared wealth dinner allowed investment advisors and clients to discuss market dynamics, asset allocation strategies, and customized financial solutions in a relaxed atmosphere [5]. - Customers expressed high satisfaction with the event, appreciating both the stunning scenery of Yunnan and the financial knowledge gained, reinforcing their relationship with Huaxia Bank [5]. Group 3 - The successful execution of the event not only provided memorable travel experiences but also established a communication bridge between the bank and its clients [5]. - Huaxia Bank's Shijiazhuang branch aims to continue innovating service formats to offer more quality and exclusive services, fostering a collaborative future with clients [5].

每经编辑｜张锦河 5月21日，平安银行在官网发布公告称，我行自2025年5月21日起调整储蓄及单位人民币存款利率。 存款利率迎来新一轮下调。 在5月20日中国银行、中国工商银行、中国建设银行及招商银行等多家银行宣布下调人民币存款利率后，5月21日，平安银行、中信银行、兴业银行、浦发银 行、民生银行、广发银行、华夏银行7家银行也跟进下调存款利率。 上述7家股份制银行将1年、2年定期利率均调降了15个基点。其中，1年定期存款利率均下调至1.15%；2年定期存款利率普遍下调至1.20%，民生银行下调至 1.15%。3年、5年定期存款利率普遍下调了25个基点，分别下调至1.30%、1.35%。 | 适用日期: 2025-5-21 | | 单位:年利率% | | --- | --- | --- | | 期限 | 基准利率 | 挂牌利率 | | (一)活期存款 | 0.35 | 0.05 | | (二) 定期存款 | | | | 三个月 | 1.10 | 0.70 | | 未 年 | 1.30 | 0.95 | | 一 年 | 1.50 | 1.15 | | 二年 | 2.10 | 1.20 | | 三 年 | 2.75 ...