Xin Lang Cai Jing·2025-12-03 03:23Core Viewpoint - The major state-owned banks in China have ceased offering 5-year large denomination certificates of deposit (CDs), indicating a trend towards shorter-term deposit products in the market [6][17][19] Group 1: Current Offerings - Industrial and Commercial Bank of China (ICBC) is currently offering a 3-year large denomination CD with a minimum deposit of 1 million yuan and an interest rate of 1.55% [1][10] - The latest 3-year fixed deposit product from ICBC has a maximum interest rate of 1.55%, with a minimum deposit requirement of only 50 yuan [1][10] - Other banks, including Agricultural Bank of China, Bank of China, and China Construction Bank, have also removed 5-year products from their offerings, focusing instead on shorter-term options [6][17] Group 2: Market Trends - The exit of 5-year large denomination CDs is not a sudden change; many banks had already phased out these products in the previous year [19] - The current market for large denomination CDs generally has a minimum deposit threshold of around 200,000 yuan [4][14] - Analysts suggest that the reduction in deposit rates may lead to a "deposit migration" effect, where funds shift from banks to capital markets seeking higher returns [7][18]