定存利率下调点评：定存利率下调将助力实际利率下行，利好财富管理业务发展

Group 1 - The adjustment of deposit interest rates will contribute to the decline of real interest rates in China, benefiting the development of wealth management businesses [3][4][7] - The recent reduction in the one-year deposit interest rate to 0.95% is part of a broader financial policy aimed at enhancing bank profitability and encouraging credit lending [4][6] - Historical data indicates that lower deposit rates have previously led to significant increases in public fund sizes, suggesting a similar trend may occur following the current rate cuts [7][8] Group 2 - The decline in deposit rates is expected to stimulate consumer spending and borrowing, potentially boosting domestic demand in the short term [7][8] - For financial institutions, the synchronized reduction of deposit and loan rates is unlikely to significantly impact profit margins, prompting a shift towards wealth management and insurance services [8] - The lower financing costs resulting from reduced deposit rates will provide greater opportunities for enterprises to expand production and upgrade technology, facilitating economic structural transformation [8] Group 3 - The ongoing trend of decreasing deposit rates is anticipated to continue, with implications for the capital market and public funds, as seen in previous years [6][9] - The current market environment, characterized by reduced tariffs and supportive fiscal and monetary policies, is expected to maintain a bullish outlook for the A-share market [9]