Core Viewpoint - Major Chinese banks, including Bank of China, China Construction Bank, Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of Communications, and Postal Savings Bank, have collectively adjusted their deposit products, particularly reducing the availability of medium to long-term deposit offerings as year-end savings demand increases [1][3]. Group 1: Changes in Deposit Products - Many customers, such as a resident in Beijing, have reported difficulties in finding suitable 5-year large-denomination certificates of deposit (CDs) as these products are no longer displayed by major banks [3]. - The interest rates for 3-year related products have dropped to between 1.5% and 1.75% across various banks [3]. - Smaller banks are also following suit, with institutions like Meizhou Commercial Bank and Yilian Bank removing 5-year fixed deposit products from their offerings [5]. Group 2: Reasons for Adjustments - The withdrawal of long-term deposit products is a response to the ongoing decline in banks' net interest margins, driven by falling loan rates that have significantly reduced asset yields [5]. - Analysts suggest that banks are compelled to eliminate high-interest long-term products to avoid severe interest margin losses or potential deficits, which could threaten their long-term stability and pose systemic risks [5]. Group 3: Implications for the Banking Sector - The adjustments in deposit products are expected to enhance the certainty of banks' profit forecasts, providing fundamental support for valuation recovery, particularly for large banks with low-cost liabilities and high dividend yields [6]. - The reduction in deposit rates may lead to a "deposit migration" effect, where funds seeking higher returns move from the banking system to capital markets, potentially benefiting direct financing markets [6].

Core Viewpoint - The recent decrease in medium to long-term deposit products in the market is attributed to banks' responses to the ongoing decline in net interest margins, leading to a reduction in the availability of five-year large certificates of deposit (CDs) and lower interest rates on three-year products [3][5][6]. Group 1: Market Trends - There is a noticeable reduction in the availability of five-year large CDs among major banks, with interest rates for three-year products dropping to between 1.5% and 1.75% [3]. - Smaller banks are also adjusting their deposit offerings, with some, like Meizhou Commercial Bank, announcing the removal of five-year fixed deposit products [5]. - The trend of withdrawing long-term deposit products is not limited to national banks but is also seen in local and private banks [5]. Group 2: Banking Sector Implications - The withdrawal of long-term deposit products is a necessary response to the challenges posed by declining bank net interest margins, as banks face significant risks of interest margin losses if they do not eliminate high-interest long-term products [5]. - Analysts suggest that this shift will enhance the certainty of banks' profit expectations, particularly benefiting large banks with low-cost liabilities and high dividend yields, making them more attractive to long-term investors [6]. - The reduction in deposit rates may lead to a "deposit migration" effect, where funds move from the banking system to capital markets, potentially increasing liquidity in stocks, bonds, and funds, which could positively impact direct financing markets [6].

内需是拉动经济增长主动力与稳定锚。今年以来，针对经济运行中面临的风险挑战，各地区、各部门按 照党中央决策部署，加紧实施更加积极有为的宏观政策，及时出台和有效落实一系列扩大国内需求、促 进产业升级、畅通经济循环的政策措施，对于支持经济平稳运行发挥了重要作用。 近期召开的中央经济工作会议提出，我国经济发展中老问题、新挑战仍然不少，外部环境变化影响加 深，国内供强需弱矛盾突出，重点领域风险隐患较多。 在部署2026年经济工作时，会议将"坚持内需主导，建设强大国内市场"放在了首位。"大国经济的重要 特征是回旋余地大，内部可循环，能够独立自主、自立自强。"中央财办分管日常工作的副主任、中央 农办主任韩文秀表示，要进一步开拓视野、创新思路，努力在扩大消费和投资、发展科技和产业、促进 城乡融合和区域协调发展等方面，培育形成更多新的增长点，开辟发展新空间。 投资是扩大内需的重要抓手。根据中央经济工作会议部署，2026年要推动投资止跌回稳，适当增加中央 预算内投资规模，优化实施"两重"项目，优化地方政府专项债券用途管理，继续发挥新型政策性金融工 具作用，有效激发民间投资活力。高质量推进城市更新。 在国家政策和金融管理部门的指引 ...

Core Viewpoint - The six major state-owned banks in China have collectively withdrawn high-interest five-year large-denomination certificates of deposit (CDs), marking a significant shift in the savings market as they adjust to ongoing pressure on net interest margins [2][3]. Group 1: Changes in Deposit Products - The five-year large-denomination CDs have been completely removed from sale, with searches on banking apps returning results indicating "no products available" or "sold out" [2]. - The minimum investment for three-year large-denomination CDs has increased significantly, with thresholds rising from the traditional 200,000 yuan to between 1 million and 5 million yuan, while the interest rate for a 1 million yuan three-year product is only 1.55%, narrowing the gap with regular savings accounts [3]. Group 2: Impact on Banking Sector - Data from the National Financial Regulatory Administration shows that the net interest margin for commercial banks was only 1.42% in Q3 2025, with predictions indicating a slight narrowing of the decline to around 4 basis points in 2026, marking the first time since 2022 that the annual decline will be in single digits [4]. - The continuous narrowing of net interest margins has been a significant factor affecting bank profitability, prompting banks to withdraw high-interest long-term deposit products to stabilize their margins [5]. Group 3: Shifts in Savings Behavior - The withdrawal of high-interest CDs has led to a migration of funds estimated to be in the hundreds of billions, as the market loses "risk-free high-yield" products [6]. - Despite 62.3% of residents still preferring to save more, this figure has been declining for two consecutive quarters, with a noticeable increase in the willingness to invest [6]. - Different types of savers are adjusting their strategies: conservative savers are sticking to deposit products, while moderate investors are moving towards bank wealth management and "fixed income plus" products, and aggressive investors are beginning to allocate funds to high-dividend stocks and gold ETFs [6].

智通财经APP获悉，香港联交所最新资料显示，12月22日，微创心通-B(02160)股东将股票存入中国银行 (香港)，存仓市值3.60亿港元，占比5.23%。 董事会决议设立董事会下设的战略委员会，自2025年12月15日起生效。设立战略委员会旨在就公司长期 发展战略及重大发展决策进行研究并提出建议。战略委员会由六位成员组成，包括Brian Chang 博士、 陈国明先生、张瑞年先生、Philippe Wanstok先生、邓奥弋先生及胡冰山博士，其中Brian Chang博士担 任主席。 此外，董事会决议设立董事会下设的商业化委员会，自2025年12月15日起生效。设立商业化委员会旨在 进一步优化公司商业化体系的规划与执行，充分发挥商业化委员会的指导作用，有效提升公司各产品在 商业化阶段的市场竞争优势。商业化委员会由五位成员组成，即陈国明先生、Brian Chang博士、张瑞 年先生、Philippe Wanstok先生及吴夏女士，其中陈国明先生担任主席。 微创心通发布公告，自2025年12月15日起生效：非执行董事兼董事会主席陈国明先生已获委任为审核委 员会成员，并不再担任薪酬委员会成员及提名委员会主席。独 ...

香港联交所最新资料显示，12月22日，微创心通-B(02160)股东将股票存入中国银行(香港)，存仓市值 3.60亿港元，占比5.23%。 董事会决议设立董事会下设的战略委员会，自2025年12月15日起生效。设立战略委员会旨在就公司长期 发展战略及重大发展决策进行研究并提出建议。战略委员会由六位成员组成，包括Brian Chang博士、 陈国明先生、张瑞年先生、Philippe Wanstok先生、邓奥弋先生及胡冰山博士，其中Brian Chang博士担 任主席。 此外，董事会决议设立董事会下设的商业化委员会，自2025年12月15日起生效。设立商业化委员会旨在 进一步优化公司商业化体系的规划与执行，充分发挥商业化委员会的指导作用，有效提升公司各产品在 商业化阶段的市场竞争优势。商业化委员会由五位成员组成，即陈国明先生、Brian Chang博士、张瑞 年先生、Philippe Wanstok先生及吴夏女士，其中陈国明先生担任主席。 微创心通发布公告，自2025年12月15日起生效：非执行董事兼董事会主席陈国明先生已获委任为审核委 员会成员，并不再担任薪酬委员会成员及提名委员会主席。独立非执行董事胡冰山博士 ...

Core Viewpoint - Under the low interest rate environment, listed banks are increasingly motivated to redeem existing "high-yield" preferred shares to save on interest costs [1] Group 1: Bank Actions - Changsha Bank announced it will redeem 6 billion yuan of its preferred shares "Changyin You 1" on December 25 and terminate its listing [1] - In December alone, five banks, including Changsha Bank, Beijing Bank, Shanghai Bank, Hangzhou Bank, and Nanjing Bank, have announced the redemption of preferred shares, totaling 45.8 billion yuan [1] - Including previous redemptions by Industrial and Commercial Bank of China, Bank of China, Industrial Bank, and Ningbo Bank, the number of banks redeeming preferred shares since 2025 has increased to nine [1] Group 2: Market Trends - Since 2020, the issuance of new preferred shares by banks has nearly stagnated, indicating a shift in capital management strategies [1] - The accelerated redemption and delisting of existing preferred shares have led to a significant reduction in their outstanding volume [1] - The willingness of commercial banks to redeem preferred shares to optimize their capital structure has been continuously reinforced [1] - Asset management institutions view the scarcity of bank preferred shares as increasingly prominent [1]

山东省烟台市公安局高新技术产业开发区分局在侦办"117"开设赌场案时，依法查明招商银行 6214836558334666等6个银行账户并非户主本人使用，账户内的资金与户主无关。请上述银行账户的实 际使用人或者账户内资金的实际所有人自公告之日起六个月内持有效身份证件及证明材料到山东省烟台 市公安局高新技术产业开发区分局配合调查，确实与案件无关的，依法予以发还，逾期无人认领的，公 安机关将依法上缴国库。联系人：宋警官，联系电话：0535-6922721。特此公告。 附：《银行账户明 细》 烟台市公安局高新技术产业开发区分局 2025年12月23日 银行名称及账号如下： 招商银行： 6214836558334666；民生银行：6226220635367260；农业银行：6228480086518059174、 6228430339414336373；工商银行：6212261909002724889；中国银行：6217850500025909387。 转自：法治日报 （来源：法治日报） ...

证券时报记者谢忠翔 低利率环境下，上市银行赎回存量"高息"优先股以节省付息成本的动力愈发增强。近日，长沙银行公告 称，将于12月25日赎回60亿元优先股"长银优1"，并终止挂牌。 证券时报记者注意到，12月以来，包括长沙银行在内，已有北京银行、上海银行、杭州银行和南京银行 等5家银行先后宣布对旗下优先股进行赎回，合计规模达458亿元。若加上此前的工商银行、中国银行、 兴业银行和宁波银行，2025年以来赎回优先股的银行数量已增加至9家。 多位研究人士表示，优先股作为银行资本工具，自2020年以后银行对其新发已几乎停滞。同时，伴随着 存量银行优先股的加速赎回并退市，存量规模愈发减少。近年来，商业银行为优化资本结构，赎回优先 股的意愿更是不断强化。在资管机构看来，银行优先股的配置稀缺性也进一步凸显。 9家银行年内赎回超1000亿 12月19日，长沙银行公告显示，该行于2019年12月非公开发行的60亿元优先股"长银优1"，将于2025年 12月25日派发优先股息后全部赎回，并终止挂牌。 据证券时报记者统计，今年以来已有2家国有大行、1家股份行和6家城商行对优先股进行赎回，包括境 内优先股7期共1118亿元、2期境外 ...

Core Insights - The Bank of China Jining Branch focuses on financing needs in key areas for small and micro enterprises, significantly increasing financial support [1] - As of November 28, the branch's inclusive small and micro loans exceeded 9 billion, effectively providing targeted financial support to numerous enterprises [1] Group 1: Product Innovation - The bank has enriched its product offerings this year, launching several innovative loan products such as "Housing Credit Increase Loan" and "Veteran Entrepreneurship Guarantee Loan," which are the first of their kind in the province [1] - These initiatives effectively broaden financing channels for enterprises and alleviate financing bottlenecks for specific customer groups [1] Group 2: Focus on Technological Innovation - The bank has increased investment in technology finance to support the development of new productive forces, providing robust financial backing for small and micro tech enterprises [1] - It has successfully launched the "Bank of China Tech Innovation Credit Loan" and "Quick Loan for Tech Enterprises," marking the first issuance of these products in the province [1] Group 3: Service Expansion - The bank is deepening its focus on unique scenarios, continuously enriching its customer base by exploring business innovations [1] - It has introduced a service plan called "Jinxiang Garlic Loan" to support agricultural development, effectively expanding financial service coverage for small and micro market entities [1] Group 4: Future Commitment - The bank plans to implement more robust and heartfelt service measures to empower the development of small and micro market entities, contributing to the high-quality development of the local real economy [2]