【导读】多家中小银行密集上调存款利率，各家银行为揽储开启"花式"营销 近日，不少银行员工在社交平台"晒"起了存款赠礼活动。同时，多家中小银行悄然上浮了定期存款利率，以"让利"方式吸引储 户。 不过，对比往年，今年中小银行的存款利率上浮幅度较为克制。在业内人士看来，年初"开门红"考核压力下，部分银行会短期 吸储，但非长期趋势，也不改存款利率长期下行趋势。 中小银行"花式"揽储 近日，多家中小银行密集上调了定期存款利率。例如，山西左云农商行发布公告称，从1月13日起调整存款利率，其中，将三 年期、五年期定期存款利率分别从1.45%、1.50%上浮至1.65%、1.65%。 宝应农商银行也表示，该行于1月13日起执行新的存款利率，三年期50万元及以上定期存款利率由1.7%上浮到1.8%，利率上浮 10个基点。 此外，盛京银行于近日上调了部分存款产品利率，吉林银行则将三年期定期存款年化利率从1.75%阶段性上调至2%。 记者注意到，为完成揽储任务，多家中小银行还"花式"推出各种存款送礼活动。 例如，北京顺义银座村镇银行发布公告称，如果是新客来该行办理存款业务，活动期间每周上午可以参与抽奖活动，且如果客 户新增存款，每 ...

本报（chinatimes.net.cn）记者卢梦雪 北京报道 "抓紧这几天锁定当前利率，错过就只能按新利率了。"近日，有多家中小银行客户经理向记者表示，该 行即将开始新一轮存款利率调降。 其中，从1月4日起，振兴银行整存整取两年期、三年期存款利率均下降到1.8%，5年期存款利率下调到 1.7%。1月16日起，新安银行两年期存款利率从2.35%下调到2.25%，下调10个基点。庆安农村商业银行 单位、个人整存整取的三个月、六个月存款产品利率相比此前分别下调了20个基点、25个基点，一年 期、两年期、三年期、五年期存款利率亦有所下调，七天存款利率较此前下调了30个基点，降幅最大。 记者注意到，2026年开年以来，中小银行降息节奏明显加快，调整力度不减。1月份已有多家中小银行 公告将下调或已下调存款利率，中长期产品存款利率降幅相对更大，部分期限存款产品利率降幅最高达 55个基点。 不过，在普遍降息的同时，仍有部分中小银行推出"开门红"活动，选择阶段性上浮存款利率。多家村镇 银行、农商行、城商行近期推出活动，不仅存款利率上浮，部分还赠送精美礼品。 开年即降息，中长期产品受冲击 1月9日，贵阳花溪建设村镇银行公告，调 ...

新年伊始，银行存款利率调整大幕再度拉开。 《金融时报》记者注意到，1月以来，已有安徽新安银行、辽宁振兴银行、山西浑源农商行等多家中小银行密集发布存款利率调整的公告。其中，多数银 行延续了降息的趋势，也有少数区域中小银行有针对性上调部分定期存款利率。 从降息阵营的具体动向来看，多家中小银行的调整呈现出"全期限覆盖、差异化降幅"的特征，民营银行与村镇银行成为本次调整的主力。 在民营银行中，新安银行于2025年12月26日在官方微信公众号发布公告称，将于1月16日起下调储蓄存款产品利率。其中，该行二年期定期存款利率从 2.35%降至2.25%，降幅为10个基点。 | 存期 | 调整后利率 (%) | | --- | --- | | 三个月 | 1.45 | | 六个月 | 1.65 | | 一年 | 1.85 | | 二年 | 2.25 | | 三年 | 2.20 | 1月3日，辽宁振兴银行发布了《关于调整人民币存款利率的公告》，自1月4日起，该行整存整取定期存款二年期、三年期利率均调整为1.80%，五年期存 款利率调整为1.70%。 经另一家民营银行营销人员证实，自1月5日起，该行全期限定期存款利率均下调20个基 ...

Report Industry Investment Rating No relevant content provided. Core Viewpoints of the Report - The A-share market is strong, with the Shanghai Composite Index hitting a record-long winning streak, and the stock index futures can be considered for trend-following operations [9][13]. - The bond market is under pressure, and the strategy for treasury bond futures is to maintain a flattening yield curve [15]. - Steel is expected to maintain a sideways trend, and iron ore is recommended to be shorted on rallies [17][18]. - The prices of coking coal and coke may rise sideways in the short term, and attention should be paid to the disturbances from coal mine production and safety inspections [19]. - For ferroalloys, it is recommended to short on rallies in the medium term, paying attention to position management [21]. - For soda ash, it is advisable to wait and see; for glass, try to go long after the market sentiment stabilizes [22]. - The short-term price of lithium carbonate will be strong, but beware of significant fluctuations [24]. - For industrial silicon, pay attention to the opportunity to sell out-of-the-money call options on rallies; for polysilicon, hold the previous long positions and continue to look for opportunities to buy on dips [25][26]. - For cotton, operate by buying on dips and rolling; for sugar, trade short-term in the low range [28][30]. - The near-term contracts of eggs are expected to have limited upside space, while the far-term contracts are supported by strong expectations but also have limited upside [32][33]. - The apple futures may be strong, and the corn futures will be sideways to strong in the short term [34]. - The jujube market will maintain a sideways trend, and the short-term spot price of live pigs is likely to decline [36][38]. - The oil price will be sideways without new events, and the prices of fuel oil and plastics will follow the oil price [40][42][43]. - The rubber futures will be sideways, and it is advisable to go long on dips; the synthetic rubber may be strong in the short term, and it is advisable to wait and see if there are no positions [45][46]. - For methanol, consider a slightly long allocation for the far-term contracts; for caustic soda, maintain a long position [47][48]. - The asphalt price is expected to fluctuate more significantly, and pay attention to the price bottom after the winter storage game [49]. - The polyester industry chain prices will follow the cost, and consider the PX and PTA 5 - 9 inter - month positive spreads [51]. - The LPG price has support, but the upside space is limited; the pulp futures are advisable to wait and see; the urea market will be strong in the short term [52][53][55]. Summary by Relevant Catalogs Macro Information - On January 6, the Shanghai Composite Index rose 1.5% to 4083.67 points, achieving a 13 - day winning streak and hitting a new high in over 10 years [9]. - The 2026 International Consumer Electronics Show (CES 2026) kicked off on January 6. NVIDIA announced the full production of the new - generation AI chip platform Vera Rubin, and launched the world's first open - source VLA autonomous driving inference model Alpamayo [9]. - The People's Bank of China deployed key tasks for 2026, including using various monetary policy tools flexibly and efficiently, and strengthening financial market supervision [9]. - China decided to ban the export of all dual - use items to Japanese military users and military purposes [10]. - Four departments jointly issued a document to promote employees' cultural and sports consumption [10]. - Regulatory authorities surveyed some wealth management companies to address the bottlenecks for medium - and long - term funds to enter the market [10]. - As of January 5, over 280 Hong Kong - listed companies released their 2025 fiscal year performance forecasts. The performance of non - ferrous metal and innovative drug companies was generally good, while some traditional industries faced pressure [10]. - The China Securities Index Company announced index adjustments, which will take effect after the market closes on January 9 [11]. - More than a dozen small and medium - sized banks adjusted their deposit interest rates, showing a differentiated pattern [11]. - Boston Dynamics under Hyundai Motor plans to produce 30,000 Atlas humanoid robots annually in the US starting in 2028 [11]. - A US senior official said that Trump's team is discussing various options to acquire Greenland [11]. - A large number of US military planes flew to Europe recently, and Iran's armed forces are on high alert [12]. - The US Secret Service launched a large - scale recruitment campaign to prepare for major events in 2028 [12]. Stock Index Futures - The A - share market continued to rise with enlarged trading volume. The three major PMI indexes all rose to the expansion range, indicating an overall recovery of China's economic prosperity. It is recommended to consider trend - following operations [13][14]. Treasury Bond Futures - The capital market is balanced and slightly loose, and the stock index is strong, putting pressure on the bond market. The strategy is to flatten the yield curve [15]. Black Metals Steel and Iron Ore - Policy has little impact on steel production. The demand for building materials is weak, while the demand for coils is okay. The supply of steel mills is stable, and the inventory is high. The valuation of iron ore is reasonable, and the supply is strong while the demand is stable. Steel is expected to be sideways, and iron ore is recommended to be shorted on rallies [17][18]. Coking Coal and Coke - The prices of coking coal and coke may rise sideways in the short term. The supply of coking coal may shrink, and the potential negative feedback risk restricts the price increase. The inventory of upstream enterprises is increasing, and the downstream replenishment is slow [19][20]. Ferroalloys - The market is affected by emotions, and it is not recommended to chase the rise. It is advisable to short on rallies in the medium term, paying attention to position management [21]. Soda Ash and Glass - For soda ash, wait and see; for glass, try to go long after the market sentiment stabilizes. The supply of soda ash is at a high level, and new capacity may be put into production. The market expects cold - repair of glass production lines, and attention should be paid to the implementation of cold - repair [22]. Non - ferrous Metals and New Materials Lithium Carbonate - The short - term price will be strong, but beware of significant fluctuations. The fundamentals are slightly weak, but the mine disturbances reduce the复产 expectation, and the long - term demand is good [24]. Industrial Silicon and Polysilicon - For industrial silicon, pay attention to the opportunity to sell out - of - the - money call options on rallies. For polysilicon, hold the previous long positions and continue to look for opportunities to buy on dips. The supply and demand of industrial silicon are in a loose balance, and the supply and demand of polysilicon are stable, with the anti -内卷 policy dominating the market [25][26]. Agricultural Products Cotton - The short - term supply is loose, but the long - term supply is expected to shrink. It is advisable to buy on dips and roll. The international cotton price is affected by the planting area and export, and the domestic cotton price is affected by the pre - holiday replenishment and the decline in production before the Spring Festival [28][29]. Sugar - The domestic sugar market is in a season of strong supply and demand. It is recommended to trade short - term in the low range. The global sugar supply is in surplus, but some institutions have lowered the surplus forecast [30][31]. Eggs - The spot price of eggs is rising seasonally before the Spring Festival, but the supply - demand pattern is still loose. The upside space of the near - term contracts is limited, and the far - term contracts are supported by expectations but also have limited upside [32][33]. Apples - The futures price may be strong. The出库 of apples is slightly lower than last year, the sales in the sales area are weak, and attention should be paid to the price changes in the sales area [34]. Corn - The short - term futures price will be sideways to strong. The price is affected by the farmers' selling sentiment and policy - related grain auctions [34][35]. Jujubes - The market will maintain a sideways trend. The prices in the production and sales areas are stable, and attention should be paid to the sales in the peak consumption season [36][37]. Live Pigs - The spot price is expected to decline in the middle of January. The futures main contract is recommended to be shorted on rallies. The second - fattening entry is active, and the supply pressure before the Spring Festival is increasing [38]. Energy and Chemicals Crude Oil - The geopolitical trading is over, and the market focuses on fundamentals. The oil price is facing a serious supply surplus, and it will be sideways without new events. Attention should be paid to the situation in Iran [40]. Fuel Oil - The price follows the oil price. The supply is loose, and the demand is weak. The geopolitical situation in Iran affects the oil price, and the inventory is increasing [42]. Plastics - The supply pressure of polyolefins is large, and the demand is weak. The upstream is in heavy losses, which may support a small rebound. It is advisable to take a sideways view and beware of callback risks [43][44]. Rubber - The price will be sideways, and it is advisable to go long on dips. The raw material price in Thailand is rising, and the fundamentals have no obvious contradictions [45]. Synthetic Rubber - The price may be strong in the short term, and it is advisable to wait and see if there are no positions. The price is driven by cost and market sentiment, and attention should be paid to the downstream procurement sentiment [46]. Methanol - The fundamentals are improving in the medium - long term. The far - term contracts can be considered for a slightly long allocation. The supply may be affected by the situation in Iran, and attention should be paid to the port inventory [47]. Caustic Soda - Maintain a long position. The impact of fundamentals on the futures is weak, and the spot price in Shandong is stable or declining [48]. Asphalt - The price is expected to fluctuate more significantly, and attention should be paid to the price bottom after the winter storage game. The supply of raw materials is uncertain due to geopolitics [49][50]. Polyester Industry Chain - The prices follow the cost. Consider the PX and PTA 5 - 9 inter - month positive spreads. The supply and demand of PX and PTA are expected to weaken, and the market for ethylene glycol and short - fiber will be sideways [51]. Liquefied Petroleum Gas - The price has support, but the upside space is limited. The supply in the Middle East is tight, but the global supply is abundant. The demand in winter is strong, but the chemical end is under pressure [52]. Paper Pulp - It is advisable to wait and see. The spot trading is weak, the port inventory is increasing, and the valuation does not provide a good opportunity [53]. Logs - The fundamentals are slightly weak, and the price will be sideways. The domestic spot market is stable, and the port inventory is increasing [54]. Urea - The spot and futures markets are expected to be strong in the short term. The spot price is rising, and the futures price is also strong [55][56].

Core Viewpoint - The recent adjustments in deposit interest rates by small and medium-sized banks indicate a shift from uniform rate cuts to more differentiated and flexible management strategies based on individual bank conditions [1][4][5] Group 1: Interest Rate Adjustments - As of January 5, 2023, the three-year fixed deposit product with an interest rate of 2.2% was officially withdrawn, and all deposit products saw a decrease of 20 basis points [1] - Various small and medium-sized banks, including Suzhou Commercial Bank and others, have announced adjustments to their deposit rates, with some rates being cut by as much as 30 basis points [2] - Specific banks like Puyang Zhongyuan Village Bank have adjusted their rates for different terms, with three-month, six-month, and two-year deposits down by 30 basis points, while one-year and five-year rates were reduced by 25 and 20 basis points respectively [2] Group 2: Contrasting Rate Increases - In contrast to the general trend of rate cuts, some banks have increased their deposit rates to attract customers, such as Wuding Xingfu Village Bank, which raised rates for various terms by 5 to 10 basis points [3] - Other banks, like Shanxi Hunyuan Rural Commercial Bank, have introduced large-denomination certificates of deposit with rates higher than their standard offerings, indicating a competitive strategy to attract deposits [3] Group 3: Strategic Management Approaches - The current trend of differentiated interest rate adjustments reflects a more refined asset-liability management approach among regional banks, moving away from a one-size-fits-all strategy [4][5] - Analysts suggest that the varying strategies in deposit rate adjustments are influenced by each bank's asset-liability structure, competitive positioning in regional markets, and the need to balance deposit pressure and customer retention [5]

Core Viewpoint - The recent adjustments in deposit interest rates by small and medium-sized banks indicate a trend towards more flexible and differentiated management of liabilities, moving away from uniform rate cuts to tailored strategies based on individual bank conditions [1][3]. Group 1: Interest Rate Adjustments - As of January 5, 2023, the three-year fixed deposit product with an interest rate of 2.2% was officially withdrawn, and all deposit products saw a decrease of 20 basis points [1]. - Various small and medium-sized banks, including Suzhou Commercial Bank and others, have recently announced adjustments to their deposit interest rates, with some rates being cut by as much as 30 basis points [1][2]. - For example, Puyang Zhongyuan Village Bank reduced its three-month, six-month, and two-year deposit rates by 30 basis points, while the one-year and five-year rates were lowered by 25 and 20 basis points, respectively [1]. Group 2: Divergent Rate Trends - In contrast to the general trend of rate cuts, some banks have begun to increase their deposit rates to attract customers, such as Wuding Xingfu Village Bank, which raised its one-year and two-year rates by 10 basis points [2]. - Shannan Rural Commercial Bank announced a promotional period until March 31, during which certain deposit rates would be increased by 15 to 14 basis points [2]. - Biyang Rural Commercial Bank launched a limited-time promotion with higher rates for one-year, two-year, and three-year deposits, reaching 1.41%, 1.43%, and 1.73%, respectively [2]. Group 3: Strategic Management of Liabilities - The beginning of the year is a critical period for banks to attract deposits, and smaller banks are using temporary rate increases to gain market share and create competitive advantages [3]. - The overall trend of declining deposit rates remains, but the likelihood of uniform cuts is decreasing as banks adopt more nuanced strategies based on their operational conditions [3]. - Analysts suggest that the current mixed rate adjustment landscape reflects a strategic choice by smaller banks facing pressure on net interest margins and heightened competition for deposits [3].

Core Viewpoint - Some banks have raised their fixed deposit rates despite the overall trend of declining deposit rates, aiming to attract customer deposits during the traditional year-end savings season [2][3]. Group 1: Deposit Rate Adjustments - Banks such as Hangzhou Bank, Ningbo Bank, and Shengjing Bank have increased the rates on certain deposit products, with Hangzhou Bank offering a 3-year fixed deposit rate of 1.9% for new funds starting from 200,000 yuan, up by 10 basis points from previous rates [4][5]. - Ningbo Bank has raised its 1-year fixed deposit rate for new funds over 200,000 yuan to a maximum of 1.6%, up from 1.5%, and for 3-year fixed deposits over 50,000 yuan to a maximum of 1.85%, up from 1.55% [5]. - Shengjing Bank has introduced a new deposit product with rates of 1.65%, 1.75%, and 1.85% for 1-year, 2-year, and 3-year terms respectively, with a minimum deposit of 10,000 yuan [5]. Group 2: Market Dynamics and Future Outlook - Industry experts suggest that the rate increases are a temporary measure to attract deposits, particularly for smaller regional banks facing more significant pressure to gather funds [6]. - The adjusted deposit rates may remain in effect until the end of the year, but could be adjusted based on the banks' deposit acquisition needs [7]. - In contrast, many large state-owned banks are reducing high-cost long-term deposits and have collectively withdrawn 5-year large certificates of deposit, indicating a broader trend of lowering deposit costs [9]. - Analysts predict that banks will continue to lower deposit rates to manage funding costs and stabilize net interest margins, with varying strategies across different institutions [10].

Core Viewpoint - Some banks are temporarily raising deposit rates as the year-end approaches, but this does not change the overall downward trend in commercial bank deposit rates [1][2][7]. Group 1: Deposit Rate Adjustments - Certain banks are offering higher rates for three-year fixed deposits, with rates reaching 1.9% for specific conditions [1][4]. - A bank in the eastern region has set a three-year fixed deposit rate at 1.8% for deposits starting from 200,000 yuan, reflecting recent rate increases [2][6]. - Despite some banks raising rates, many smaller banks are still reducing their deposit rates, with several village banks lowering their three-year fixed deposit rates from 1.75% to 1.65% [2][7]. Group 2: Rate Variability and Conditions - The rates for three-year fixed deposits vary based on deposit amounts, with 1.75% for deposits starting at 50,000 yuan and higher rates for larger deposits [3][4]. - The higher rates are often tied to promotional activities, and there are indications that these offers may be limited in availability [5][4]. Group 3: Long-term Deposit Trends - There is a noticeable trend of banks reducing the proportion of long-term deposit products, with many banks ceasing the sale of five-year personal large-denomination certificates of deposit [8]. - The average net interest margin for commercial banks as of the third quarter was 1.42%, with smaller banks generally offering higher deposit rates compared to large state-owned banks [9].

Core Insights - Several banks have recently lowered RMB deposit rates, with major state-owned banks removing five-year large-denomination certificates of deposit (CDs) from their offerings [1][2] - The remaining three-year deposit products have seen rates drop to between 1.5% and 1.75%, with limited availability [1][2] - Some banks have begun to raise deposit rates as a strategy to attract deposits [3][4] Summary by Category Deposit Rate Changes - Major state-owned banks have collectively removed five-year large-denomination CDs, leaving only three-year products with rates between 1.5% and 1.75% [1][2] - Smaller banks are also adjusting or canceling three-year and five-year ordinary fixed deposit products [1][2] Recent Rate Increases - Some banks, such as Hangzhou Bank, have recently increased rates on certain deposit products, with new funds for three-year deposits starting at 1.9% for amounts of 200,000 yuan and 1.8% for non-new funds [3] - Other banks, including Ningbo Bank and Shengjing Bank, have also raised rates on select deposit products [4] Industry Perspective - Industry insiders suggest that the recent increases in deposit rates by some banks are a temporary measure aimed at attracting deposits [2][4]

Core Viewpoint - The banking industry is experiencing a structural adjustment in deposit products, with a notable trend of large-denomination certificates of deposit (CDs) being phased out, particularly the 5-year term, while some small and medium-sized banks are increasing deposit rates to attract customers [1][2][3]. Group 1: Market Trends - The deposit market has entered a phase of differentiated competition, with large banks reducing long-term high-cost deposits and raising the minimum investment thresholds for large CDs [1][7]. - Major state-owned banks have collectively removed 5-year CDs from their offerings, leaving only shorter-term products available for investors [2][3]. - The exit of 5-year CDs is not sudden; many banks have already stopped offering long-term deposits, indicating a shift in banks' liability management strategies [6][3]. Group 2: Interest Rate Dynamics - There is a growing phenomenon of interest rate inversion, where shorter-term deposits offer higher rates than longer-term ones, challenging traditional pricing logic [5]. - The average net interest margin for commercial banks has decreased, with the latest data showing a net interest margin of 1.42%, down 11 basis points year-on-year [16][17]. - Some small and medium-sized banks are increasing deposit rates to enhance their competitiveness in attracting deposits, with examples showing rates as high as 1.9% for certain terms [15][16]. Group 3: Strategic Adjustments - Large banks are implementing differentiated and tiered management for large CDs, with some products requiring a minimum investment of 1 million yuan, while still offering lower-threshold options [7][13]. - The adjustments reflect a broader industry trend where banks are using traditional deposit products as tools for customer relationship management, especially in a declining interest rate environment [14]. - The ongoing pressure to reduce funding costs will likely lead banks to continue lowering deposit rates, although the pace of such reductions may slow as rates approach their lower limits [17][16].