Group 1 - Postal Savings Bank executed a block trade on January 9, with a transaction volume of 500,000 shares and a transaction amount of 2.71 million yuan, at a price of 5.42 yuan per share [1] - The buyer of the block trade was Guotai Junan Securities Co., Ltd. headquarters, while the seller was Industrial Securities Co., Ltd. Fuzhou Chaoyang Road Securities Business Department [1] - In the last three months, the stock has seen a total of 12 block trades, with a cumulative transaction amount of 48.01 million yuan [2] Group 2 - On January 9, Postal Savings Bank's closing price was 5.42 yuan, reflecting an increase of 0.18%, with a daily turnover rate of 0.23% and a total transaction amount of 827 million yuan [2] - The stock experienced a net outflow of 65.10 million yuan in main funds for the day, and over the past five days, the stock has declined by 0.55% with a total net outflow of 188 million yuan [2] - The latest margin financing balance for the stock is 1.01 billion yuan, which has decreased by 28.42 million yuan over the past five days, representing a decline of 2.73% [2]

Core Viewpoint - Major state-owned banks in China have launched new large-denomination time deposit products in early 2026, but short-term product interest rates have generally entered the "0" range, indicating a downward trend in deposit rates across the banking sector [1][2]. Group 1: State-Owned Banks - The annual interest rates for 1-month and 3-month large-denomination time deposits from major state-owned banks such as Bank of China, Agricultural Bank of China, Industrial and Commercial Bank of China, and China Construction Bank are all at 0.9%, with a minimum deposit requirement of 200,000 yuan [1]. - Some products from these banks have interest rates lower than those of regular fixed-term deposits of the same duration [1]. - Since December 2025, these banks have collectively removed 5-year large-denomination time deposits, with available products now generally limited to 3 years or less, and interest rates ranging from 1.10% to 1.55% [1]. Group 2: Other Banks - In contrast to state-owned banks, some joint-stock banks, city commercial banks, and rural commercial banks are still offering short-term large-denomination time deposits with interest rates above 1%. For instance, Citic Bank's 1-month large-denomination time deposit has an interest rate of 1.1% [1]. - Tianjin Bank's first 3-month large-denomination time deposit for 2026 has an interest rate of 1.15%, while Liu'an Rural Commercial Bank offers a similar product at 1.1% [1]. - However, smaller banks are also experiencing downward pressure on short-term interest rates, with some entering the "0" range, such as Yunnan Tengchong Rural Commercial Bank, which has set a 3-month deposit rate at 0.95% [2]. Group 3: Market Analysis - Industry experts suggest that the recent interest rate adjustments are closely related to banks' ongoing efforts to manage net interest margins and reduce funding costs [2]. - The current market environment indicates that the downward trend in deposit rates may continue [2].

Group 1 - Major state-owned banks have launched new large-denomination time deposit products, but short-term product interest rates have generally entered the "0" range, with rates for 1-month and 3-month deposits at 0.9% [1] - Compared to state-owned banks, some joint-stock banks and city commercial banks still offer short-term large-denomination time deposits with interest rates above 1%, such as CITIC Bank's 1.1% for a 1-month deposit [1] - The interest rates for large-denomination time deposits from state-owned banks have been reduced, with the current rates for products with a term of 3 years or less ranging from 1.10% to 1.55% [1] Group 2 - Smaller banks are also experiencing downward pressure on short-term interest rates, with some entering the "0" range, as seen with Yunnan Tengchong Rural Commercial Bank offering a 0.95% rate for a 3-month deposit [2] - The adjustment in interest rates is closely related to banks' ongoing efforts to manage net interest margins and reduce funding costs, indicating a potential continuation of the downward trend in deposit rates in the current market environment [2]

Core Viewpoint - In early 2026, several major state-owned banks in China have launched new large-denomination time deposit products, but short-term product interest rates have generally entered the "0" range [1][3]. Group 1: State-Owned Banks - The annual interest rates for 1-month and 3-month large-denomination time deposits from major state-owned banks such as Bank of China, Agricultural Bank of China, Industrial and Commercial Bank of China, and China Construction Bank are all at 0.9%, with a minimum deposit requirement of 200,000 yuan [1][3]. - The China Construction Bank has only launched a special one-year product for the Beijing area with an interest rate of 1.4%, while Postal Savings Bank has not yet issued large-denomination time deposits [1][3]. - Since December 2025, the six major state-owned banks have collectively removed five-year large-denomination time deposits, with available products now generally limited to three years or less, and interest rates ranging from 1.10% to 1.55% [1][3]. Group 2: Other Banks - In contrast to state-owned banks, some joint-stock banks, city commercial banks, and rural commercial banks still offer short-term large-denomination time deposits with interest rates above 1%. For instance, Citic Bank's 1-month large-denomination time deposit has an interest rate of 1.1%, while Tianjin Bank's 3-month product offers 1.15% [1][3]. - Some smaller banks are also experiencing downward pressure on short-term interest rates, with certain rates entering the "0" range. For example, Yunnan Tengchong Rural Commercial Bank plans to issue a three-month large-denomination time deposit with an interest rate of 0.95% [2][4]. - Industry experts indicate that the recent interest rate adjustments are closely related to banks' ongoing efforts to manage net interest margins and reduce funding costs, suggesting that the downward trend in deposit rates may continue in the current market environment [2][4].

Core Viewpoint - The transition of digital renminbi from cash-type 1.0 version to deposit currency-type 2.0 version will allow for interest payments on real-name digital renminbi wallet balances, aligning with bank demand deposit rates, thus enhancing its appeal and functionality in the financial system [1][8][12]. Group 1: Changes in Digital Renminbi - Starting January 1, 2026, real-name digital renminbi wallet balances will earn interest based on the bank's demand deposit rates, with interest calculated quarterly [1][8]. - The new deposit currency-type 2.0 version will include a "safety net" where commercial banks will manage digital renminbi wallets, ensuring customer security and compliance with regulations [8][9]. - The People's Bank of China has introduced a digital management service framework that emphasizes an "account system + currency string + smart contracts" approach to enhance the digital renminbi ecosystem [9][10]. Group 2: Impacts of the Transition - The shift to deposit currency-type 2.0 version positions China as a leader in central bank digital currency (CBDC) by allowing digital renminbi to integrate more easily into global interbank payment systems [12][13]. - The digital renminbi will improve data flow and information exchange, enhancing the precision and effectiveness of monetary policy transmission [12]. - The transition will provide users with cash-like convenience, such as offline payments and real-time settlements, while banks will gain asset-liability management rights, stimulating participation in the digital renminbi ecosystem [12][13]. Group 3: Recommendations for Future Development - It is suggested to expand the regulatory framework for digital renminbi, clarify its legal status, and broaden the pilot scope nationwide to encourage public participation [13]. - There is a call for accelerating the coverage of all scenarios and enhancing functional innovations to optimize the digital renminbi ecosystem [13].

Core Insights - The DCMM (Data Management Capability Maturity Model) is China's first national standard in the data management field, establishing a recognized certification system for data management maturity [1] - Postal Savings Bank of China has achieved the highest level five certification (Optimization Level) in the latest DCMM assessment, indicating its data management capabilities are at an industry-leading level [1] Data Governance - The bank has embraced the "governance as service" development philosophy, enhancing data accessibility and usability across various business scenarios [1] - Implementation of "large models + knowledge graphs" has enabled intelligent tracing of data lineage, ensuring deep integration and intelligent empowerment of management systems related to standards, quality, and security [1] Data Empowerment - Postal Savings Bank has established a five-level data architecture covering "foundation—industry—enterprise—field—scenario," creating a comprehensive data asset system unique to the bank [2] - The bank has developed a retail intelligent marketing system leveraging big data and large models, enhancing customer acquisition through precise models and optimizing product recommendations [2] - Continuous optimization of anti-fraud intelligent models supports the identification of high-risk transactions, transforming data assets into core business drivers [2] Future Outlook - The bank aims to maintain its commitment to "finance for the people," translating technological advancements into perceptible financial services that benefit various industries and households [2]

Core Viewpoint - The launch of the "Port and Shipping Credit" product aims to address the financing bottlenecks faced by small and medium-sized shipping enterprises in Ningbo, integrating authoritative industry credit data into the bank's risk control model to provide flexible and efficient credit support [1][2]. Group 1: Product Features - "Port and Shipping Credit" features three main characteristics: precise profiling, controllable risk, and targeted empowerment, optimizing the approval process and enhancing banks' willingness to lend [2]. - The product is specifically designed for local small and medium-sized shipping enterprises that have obtained credit ratings from the Zhejiang provincial waterway transportation authority, with loan amounts directly linked to credit ratings [2]. Group 2: Financial Impact - Companies rated AA and A can secure collateralized loans up to 100 million yuan, benefiting from green approvals, no principal repayment renewals, and preferential interest rates [2]. - Ningbo Kelly Jiahe Shipping Co., Ltd. became one of the first beneficiaries, successfully obtaining a 16 million yuan loan with simplified procedures and lower interest rates than the market average, which significantly improved its cash flow for operational expenses [3]. Group 3: Market Response - As of now, six companies have received a total of 102 million yuan in credit, with another six companies in progress, indicating a positive market response to this financing model [3]. - The collaboration between government and banking sectors aims to build a shipping financial ecosystem, with the port management department acting as a "data bridge" and "demand matcher" [3]. Group 4: Future Implications - Analysts believe that the success of this initiative hinges on establishing a compliant application path for administrative data in the financial sector, which could inspire further financial innovations based on specific industry credit data, supporting high-quality development of the real economy [3].

Core Viewpoint - Postal Savings Bank of China Zhengzhou Branch is actively promoting public awareness of the deposit insurance system to protect depositors' rights and interests through various outreach activities [1][2] Group 1: Promotional Activities - The bank is utilizing LED screens at branches to display key slogans and is broadcasting engaging educational videos about deposit insurance on television [1] - Staff members are proactively explaining the coverage and compensation limits of deposit insurance to customers during their visits [1] - The bank integrates deposit insurance knowledge into events like "Wealth Weekly Talks" and "Financial Salons," using interactive methods such as quizzes and case studies to enhance understanding in a relaxed environment [1] Group 2: Community Engagement - A promotional team is conducting outreach in rural areas, communities, schools, enterprises, and government agencies to ensure targeted coverage of key demographics [1] - The bank focuses on areas with a high concentration of elderly individuals, utilizing large print, local dialects, and audio materials to effectively communicate the deposit insurance message [1] Group 3: Online Promotion - The bank is exploring popular online methods for publicizing deposit insurance, including short videos, skits, and catchy phrases to clearly convey the information [1] - Various online channels are being used to disseminate deposit insurance knowledge, expanding the reach of the campaign beyond physical locations [1] Group 4: Future Plans - The bank plans to continue its deposit insurance promotion efforts and establish a regular education mechanism to enhance financial services and broaden outreach [2] - The goal is to ensure that deposit insurance knowledge reaches every household, contributing to local financial stability [2]

Core Viewpoint - The Zhoushan Financial Regulatory Bureau has approved the appointment of Wu Yongchao as the head of the Postal Savings Bank of China, Zhoushan Branch, emphasizing the importance of compliance with financial regulations and ongoing education in economic and financial laws [1] Group 1 - The approval of Wu Yongchao's qualification as the head of the Zhoushan Branch of Postal Savings Bank of China has been officially granted [1] - The appointed individual must adhere to the regulations set by the financial regulatory authority and is required to report their onboarding status within three months of the approval [1] - The bank is responsible for ensuring that the appointed individual continues to learn and understand relevant laws and regulations, while also maintaining a strong awareness of risk compliance [1]

Core Viewpoint - The launch of the "Port and Shipping Credit" financial product aims to address the financing bottlenecks faced by small and medium-sized shipping enterprises in Ningbo, integrating authoritative industry credit data into the bank's risk control model to provide flexible and efficient credit support [1][3]. Group 1: Product Features - "Port and Shipping Credit" represents a shift in risk control logic, moving away from traditional reliance on financial statements and fixed asset collateral to a multi-dimensional evaluation of enterprises using credit data from the Ningbo Port and Shipping Management Center [3]. - The product features three main characteristics: precise profiling, controllable risk, and targeted empowerment, optimizing the approval process and enhancing the bank's willingness to lend [4]. - The credit limit is directly linked to the enterprise's credit rating, with higher-rated companies eligible for larger loans, and specific benefits such as green approval and interest rate discounts for AA and A-rated enterprises [4]. Group 2: Market Response - Ningbo Kelly Jiahe Shipping Co., Ltd. became one of the first beneficiaries of this financial product, successfully obtaining a loan of 16 million yuan with minimal collateral requirements, which significantly improved its cash flow [5][6]. - The bank has already issued 102 million yuan in credit to six companies, with another six companies in the pipeline for an additional 200 million yuan, indicating a positive market response to this financing model [6]. - The collaboration between government and banking institutions aims to build a shipping financial ecosystem, with the port management department acting as a data bridge and demand matcher, while financial institutions focus on product design and risk pricing [6]. Group 3: Implications for the Industry - Analysts believe that the success of this initiative hinges on the compliant application of administrative data in the financial sector, which could inspire further financial innovations based on specific industry credit data [6]. - If the "Port and Shipping Credit" model proves to be sustainable and controllable in terms of risk, it may stimulate more financial innovations that support the high-quality development of the real economy [6].