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Group 1 - The issuance of large-denomination certificates of deposit (CDs) by small and medium-sized banks has surged since the beginning of 2026, with city commercial banks and rural commercial banks leading the trend [1][2] - A notable characteristic of this issuance wave is the shift towards short-term products, with one-year and shorter-term CDs becoming the dominant offerings, while three-year products are decreasing in proportion and five-year products have nearly disappeared from the market [1][2] - Jiangsu Bank has issued nine batches of large-denomination CDs in 2026, with one-year products at a rate of 1.45% and three-year products reaching up to 1.9%, but no five-year products have been launched [2] Group 2 - The focus on short-term products is attributed to the pressure on banks' net interest margins, prompting them to control funding costs and respond to declining loan rates by reducing high-cost long-term liabilities [3] - The competitive landscape among banks is shifting from a reliance on interest rate competition to differentiation and service optimization as core competitive advantages [3] - Small and medium-sized banks are expected to enhance product attractiveness through customized offerings, convenient withdrawal services, and scenario-based marketing rather than solely depending on interest rate advantages to attract deposits [3]