Zheng Quan Shi Bao·2026-01-16 14:28Core Insights - The demand for bank safe deposit boxes has surged, leading to a situation where they are difficult to obtain, with many banks in Beijing reporting long waiting lists and limited availability [1][2][6] Group 1: Current Situation - Many banks, including Industrial and Commercial Bank of China (ICBC), Agricultural Bank of China, and China Bank, have reported that they are no longer accepting new reservations for safe deposit boxes due to high demand [1][2] - The waiting lists for safe deposit boxes can range from a few people to over 40, with some banks unable to provide an estimated waiting time due to the unpredictable nature of box availability [1][2][3] - China Bank is the only institution currently offering a limited number of available boxes, but customers must meet a minimum asset requirement of 1 million yuan [3] Group 2: Historical Context - The safe deposit box service in China has its origins in the early 20th century, introduced by modern commercial banks as a means to store valuable items securely [5] - The service has been a longstanding part of banking operations, with many branches reporting that they have not seen significant turnover in box rentals, contributing to the current scarcity [4][6] Group 3: Market Dynamics - The current shortage of safe deposit boxes is attributed to a mismatch between high demand and limited supply, driven by increased interest in physical assets like gold and important documents amid low interest rates and market volatility [6][8] - Banks face challenges in expanding this service due to the need for specialized physical space and high security costs, which limits their incentive to increase supply [6][8] Group 4: Customer Segmentation - Some banks are offering expedited access to safe deposit boxes for high-net-worth clients, indicating a trend towards prioritizing services for wealthier customers [8] - Banks are using the scarcity of safe deposit boxes as a means to attract and retain high-end clients, suggesting that the service may evolve into a more exclusive offering rather than a widely available one [8]