Group 1 - The core viewpoint of the article is that several banks in China have announced a reduction in RMB deposit rates, following a trend initiated by major state-owned banks, which is linked to the recent decrease in the Loan Prime Rate (LPR) [1][4][5] Group 2 - On May 20, six state-owned banks and several others, including China Merchants Bank and China Everbright Bank, announced a reduction in RMB deposit rates, with the adjustment range being 5 to 25 basis points [1] - Following this, on May 21, seven additional banks, including Ping An Bank and CITIC Bank, also announced similar reductions, with the new rates for demand deposits set at 0.05% and various fixed-term deposit rates adjusted accordingly [1][2] - The new fixed-term deposit rates for three months, six months, one year, two years, three years, and five years are 0.7%, 0.95%, 1.15%, 1.20%, 1.30%, and 1.35% respectively [1] - The recent LPR adjustments include a decrease in the 5-year LPR to 3.5% and the 1-year LPR to 3%, both down by 0.1% from the previous month [4] - The reduction in deposit rates is expected to lead to an overall decrease in deposit rates by approximately 0.11 to 0.13 percentage points, which may help stabilize banks' net interest margins [4][5] - As of the first quarter of 2025, the net interest margin for commercial banks was reported at 1.43%, a decrease of 0.09 percentage points, marking a historical low [5]

Core Points - The one-year and five-year Loan Prime Rates (LPR) have both decreased by 10 basis points, now standing at 3.0% and 3.5% respectively [1] - Major banks, including the six largest banks and several joint-stock banks, have announced reductions in deposit rates following the LPR adjustments [1] Group 1: Deposit Rate Adjustments - The Industrial and Commercial Bank of China (ICBC) has updated its deposit rates effective from May 20, 2025, with all types of deposit rates being lowered [2] - The new rates include a 5 basis point reduction for demand deposits, and a 15 basis point reduction for three-month, six-month, and one-year fixed deposits [2] - Three-year and five-year fixed deposit rates have been reduced by 25 basis points [2] Group 2: Comparison of Deposit Rates - The adjusted deposit rates among major banks such as ICBC, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, and China Merchants Bank are largely consistent, with slight variations from Postal Savings Bank and China Everbright Bank [4] - For instance, the one-year fixed deposit rate at ICBC is 0.95%, while Postal Savings Bank offers 0.98% and China Everbright Bank offers 1.15% [4] - Actual deposit rates may differ from the listed rates, with ICBC's one-year fixed deposit rate being 1.1% for amounts starting at 50 yuan on mobile banking [4] Group 3: Reasons for Rate Adjustments - The adjustments in deposit rates are closely linked to the recent decrease in LPR, as banks aim to maintain stable interest margins amid declining loan rates [6] - Typically, large banks initiate the rate adjustments, followed by joint-stock banks, and finally smaller banks [6] - Joint-stock and smaller banks often offer higher deposit rates compared to large banks after adjustments [6]

Group 1 - The core viewpoint of the articles is that the recent reduction in the Loan Prime Rate (LPR) and deposit rates will lower financing costs for businesses and residents, thereby boosting market confidence and supporting stable growth in the real economy [1][2][5] - The LPR has decreased for the first time in seven months, signaling a positive move towards reducing corporate financing costs and easing the burden on residents [3][5] - The simultaneous decline in LPR and deposit rates reflects the effective functioning of the market-based adjustment mechanism, enhancing banks' ability to price loans competitively [4][5] Group 2 - The reduction in LPR is expected to stimulate effective financing demand from both enterprises and residents, which is crucial for expanding investment and consumption [2][3] - Lower deposit rates will help banks maintain a reasonable net interest margin, which is essential for sustaining their ability to support the real economy [4][5] - Investors are encouraged to optimize their asset allocation in response to declining deposit rates, with a focus on diversifying investments across various asset classes [6][7]

（文/孙梅欣 编辑/张广凯） 相较于上海、北京的快速反应，南京等二线城市的5年期以上首套房贷款，目前仍然保持在3.0%利率水 平。 有房产中介表示，目前银行细则还没出，仍然维持3.0%的利率水平："按政策来说，首套房应该降至 2.9%了，但实际还保持之前标准。" 而在存量房部分，有网友表示，银行贷款经理已经告知，会在下一个房贷利率调整期下降10个bp："现 在我的贷款利率是3.3%，下降之后是3.2%。" 5月20日，贷款市场报价利率（LPR）迎来今年首次下调，1年期LPR和5年期以上LPR均下调10个基 点。 观察者网从多处获悉，北京部分银行商业贷款5年期以上首套房利率降至3.05%，二套房贷款利率降至 3.45%，较早前均下调10个bp。 除北京之外，上海也同样下调了商贷利率。智通财经信息称，多家上海的银行已经将首套房利率下调至 3.05%，主城区二套房利率调至3.45%，临港、嘉定等区域的二套房利率为3.25%。 有业内人士指出，北京、上海首套房商贷3.05%的利率，创下历史新低。 公积金部分则是在今年5月8日就已经下调，其中5年以下（含5年）和5年以上首套个人住房公积金贷款 利率分别为2.1%和2.6 ...

Core Viewpoint - The People's Bank of China has lowered the Loan Prime Rate (LPR) for both 1-year and 5-year terms by 10 basis points, reflecting a transmission of policy rate adjustments to the loan market [1][4][5]. Group 1: LPR Adjustment - The 1-year LPR is now 3.0% and the 5-year LPR is 3.5%, both down by 10 basis points from the previous period [1][4]. - This adjustment aligns with the recent reduction in the 7-day reverse repurchase rate, indicating a coordinated monetary policy approach [4][5]. - Analysts suggest that further reductions in LPR may be necessary to enhance the quality of LPR quotes and better reflect market conditions [1][6]. Group 2: Economic Context - The LPR reduction is seen as a response to the need for counter-cyclical adjustments in macroeconomic policy, particularly in light of external economic pressures [5][7]. - The recent easing measures aim to lower financing costs for businesses and households, thereby stimulating domestic demand [5][6]. - The potential for further LPR reductions exists, especially if economic growth pressures increase in the second half of the year [7][8]. Group 3: Future Outlook - Analysts predict that the overall interest rate environment will continue to decline, with loan rates expected to follow suit [4][7]. - There is an emphasis on the need to manage non-interest costs effectively while maintaining stable interest margins for banks [7][8]. - The market anticipates that deposit rates will also see a reduction of approximately 10 basis points, particularly for longer-term deposits [8].

5月20日 新一期贷款市场报价利率(LPR)出炉 3% 1年期LPR降至 5年期以上LPR降至 3,5% 新华社北京5月20日电（记者吴雨、任军）"降息"了！企业和居民融资成本将进一步降低。5月20 日，中国人民银行授权全国银行间同业拆借中心公布，1年期LPR降至3%，5年期以上LPR降至3.5%， 均较上一期下降10个基点。这是今年以来LPR首次下降，传递出稳市场、稳预期的明确信号。 新华社权威快报 年内首降! 以房贷利率为例，按100万元商贷、30年等额本息还款方式粗略估算，5年期以上LPR下降10个基 点，可为借款人减少每月利息支出50多元，节省利息总额近2万元。 今年以来，LPR改革效能持续释放，促进贷款利率稳中有降。 4月份，企业新发放贷款加权平均利率约3.2%，比上年同期低约50个基点；个人住房新发放贷款加 权平均利率约3.1%，比上年同期低约55个基点，均处于历史低位。 另外，存款利率持续下行，为贷款利率下降创造了空间。今年以来，存款利率下调的趋势还在不断 延续，不少银行存款利率已全面进入"1时代"。 "存款利率下行，有利于保持商业银行净息差的稳定，提升金融支持实体经济的可持续性。"清华大 学国 ...

Core Viewpoint - The recent reduction in the Loan Prime Rate (LPR) has led to historically low mortgage rates in Beijing, benefiting both new home buyers and existing mortgage holders [2][6]. Group 1: Mortgage Rate Changes - The first home loan interest rate in Beijing has dropped to 3.05%, while the second home loan minimum rate is now 3.25%, both setting historical lows [2][6]. - The LPR for 1-year loans is set at 3.00%, and for 5-year loans at 3.50%, which directly influences the mortgage rates [2][4]. Group 2: Impact on Existing Loans - The recent LPR reduction of 10 basis points means that for a first home loan of 1 million yuan over 25 years, monthly payments could decrease by approximately 54 yuan, saving around 20,000 yuan in total interest [7][8]. - Existing first home loan rates in Beijing are set at LPR minus 30 basis points, while second home loans vary based on location, with rates of LPR minus 5 basis points for properties within the Fifth Ring and LPR minus 25 basis points for those outside [8]. Group 3: Policy Background - Since August 2019, mortgage rates have been determined based on the LPR, with local adjustments made according to market conditions [4][5]. - The adjustment mechanism allows provinces to set their mortgage rates based on the LPR, ensuring that local market conditions are taken into account [5].

Core Viewpoint - The People's Bank of China (PBOC) has lowered the Loan Prime Rate (LPR) by 10 basis points, with the 1-year LPR at 3.0% and the 5-year LPR at 3.5%, which is expected to reduce financing costs for the real economy and homebuyers [1][3]. Group 1: Interest Rate Changes - The PBOC announced a policy interest rate cut of 0.1 percentage points, which is anticipated to lead to a similar decrease in the LPR [1]. - The 7-day reverse repurchase rate was reduced from 1.5% to 1.4%, aligning with market expectations for the LPR to decline [1]. - The average interest rate for newly issued corporate loans in April was approximately 3.2%, down about 4 basis points from the previous month and 50 basis points year-on-year [1]. Group 2: Impact on Financing Costs - The reduction in LPR is expected to effectively lower the comprehensive financing costs for the real economy and the costs for homebuyers [1]. - For a mortgage of 1 million yuan over 30 years, the recent LPR decrease could reduce the total repayment amount by approximately 19,000 yuan [1]. Group 3: Bank Responses - Commercial banks, including China Construction Bank and China Merchants Bank, have begun to lower deposit rates, with the 1-year fixed deposit rate now at 0.95% [2][3]. - The simultaneous decline of LPR and deposit rates is seen as beneficial for maintaining the stability of banks' net interest margins while effectively reducing financing costs for the economy [3].

Group 1 - The Private Economy Promotion Law will take effect on May 20, 2025, marking the first foundational law specifically for the development of the private economy in China, establishing the legal status of the private economy [1] - The law incorporates the principle of "two unwavering" for the first time, emphasizing the government's commitment to supporting the private sector [1] Group 2 - On May 20, the State Council Information Office will hold a press conference regarding the "Opinions on Continuing to Promote Urban Renewal Actions," with officials from various ministries providing insights [2] - The Ministry of Transport will also hold a press conference to discuss the establishment of an international standardization organization for port and terminal standards [3] Group 3 - The Loan Prime Rate (LPR) for one-year and five-year terms will be announced on May 20, which is crucial for understanding the lending environment [4] Group 4 - On May 20, a total of 11 companies will have their restricted shares unlocked, amounting to 156 million shares with a total market value of 2.277 billion yuan, with significant contributions from companies like Lianxiang Co., Haige Communication, and Mingtai Aluminum [5] - Four companies will have over 10 million shares unlocked, with Lianxiang Co. leading at 61.125 million shares [5] Group 5 - 40 companies have disclosed their stock repurchase progress, with 7 companies announcing new repurchase plans, and 20 companies having their plans approved by shareholders [6] - The highest proposed repurchase amounts come from Zhaoxun Media, Hexing Packaging, and Hengda New Materials, with plans of up to 200 million yuan, 100 million yuan, and 50 million yuan respectively [6]

Core Viewpoint - The one-year Loan Prime Rate (LPR) in China for May is set at 3%, down from the previous value of 3.1% [1] Group 1 - The reduction in the LPR indicates a potential easing of monetary policy aimed at stimulating economic growth [1] - The current LPR of 3% reflects the ongoing adjustments in the financial market to support borrowing and investment [1]