更令人唏嘘的是，曾经被视为安家置业最后希望的三四线城市，房价更是跌至冰点。鹤岗、阜新、双鸭山、玉门、伊春等地，单价三四千元的"白菜价"房 产，比比皆是，令人不禁感叹"未来房价如葱"的预言已经成真。房地产市场逐渐褪去投资的光环，回归居住的本源。 2025：当"未来房价如葱"成真，手握存款者面临的三重困境 曾经被商界大佬戏称为"未来房价如葱"的预言，在2025年刺痛着每一个中国人的神经。房地产市场的寒流正席卷全国，叠加存款利率的持续下行，让手握存 款的普通民众如坐针毡，不得不面对前所未有的挑战。 楼市凛冬已至，房价跌落神坛 早在2017年，就有人预见到房地产市场的未来。如今，一语成谶。曾经高不可攀的房价，正在经历一场深刻的价值重塑。 这场变革并非悄无声息。早在2025年，以郑州、石家庄为代表的二三线城市便已感受到市场的寒意，房价开始松动。而如今，一线城市也未能幸免。以上海 为例，2021年市中心平均房价一度高达每平方米九万多元，如今已跌至六万多元，跌幅高达30%。曾经的"金字塔尖"，也感受到了寒风的侵袭。 存款利息"瘦身"，财富保卫战打响 存款利率下调的背后，是银行业面临的现实困境。一方面，存款数量持续攀升，而贷 ...

Core Viewpoint - The People's Bank of China reported a significant increase in RMB deposits in May, driven by a surge in non-bank financial institution deposits, which reached a near ten-year high, indicating a shift in asset allocation preferences among residents and enterprises towards higher-yielding non-bank financial products [1][2]. Group 1: Deposit Growth and Structure - In May, non-bank deposits increased by 1.19 trillion yuan, marking the highest growth for the same period in nearly a decade [2]. - Cumulatively, non-bank deposits have risen by 3.07 trillion yuan this year, which is 680 billion yuan more than the same period last year [2]. - The increase in non-bank deposits is attributed to the declining deposit interest rates, prompting a "migration effect" where individuals and businesses prefer to allocate assets through non-bank institutions [2][3]. Group 2: Interest Rate Impact - The continuous decline in deposit rates has led to a shift in asset allocation from traditional bank deposits to higher-yielding financial products such as money market funds and cash management products [2][4]. - Major state-owned banks and joint-stock banks have lowered deposit rates, with the one-year fixed deposit rate reduced to 0.95% [2]. - This trend is expected to persist, as lower deposit rates encourage more funds to flow into consumption and investment activities, enhancing economic vitality and optimizing asset allocation [4][5]. Group 3: Diversification of Asset Allocation - There is a notable shift from "single deposits" to a diversified approach involving "wealth management + equities," driven by the deepening of interest rate marketization [4]. - The changing asset allocation mindset among residents is likely to lead to increased investments in stock markets, bond funds, private asset management products, and insurance savings products [4]. - The ongoing trend of deposit migration is expected to continue, with funds increasingly directed towards money market funds, bank wealth management, bond markets, and stock markets [4][5].

Core Viewpoint - The availability of long-term large-denomination certificates of deposit (CDs) is decreasing, and the interest rate advantages are minimal compared to regular fixed-term deposits [2][3][4] Group 1: Market Trends - Major banks, including the six state-owned banks, have removed 5-year large-denomination CDs from sale, with some even discontinuing 3-year products [2][3] - The highest interest rate for 3-year large-denomination CDs among state-owned banks is currently 1.55%, which is equivalent to the rate for 3-year fixed-term deposits [3] - Many banks are now offering only 1-year CDs, and the interest rates for large-denomination CDs have aligned with those of regular fixed-term deposits [2][4] Group 2: Customer Behavior - Customers are increasingly seeking alternative investment products, particularly among younger demographics, as they express dissatisfaction with current interest rates [5][6][7] - The total scale of the wealth management market in China has exceeded 31 trillion yuan, indicating a shift towards low-risk asset management products [6] Group 3: Banking Sector Dynamics - The net interest margin for commercial banks has narrowed to 1.43%, down from 1.52% in the previous year, due to lower loan yields and increased competition for deposits [8] - Banks are adjusting their deposit rates and product offerings to reduce funding costs, which may lead to a further decline in long-term deposit products [8][9] - Despite the reduction in long-term products, some banks may retain a portion of these offerings to attract customers, although their overall proportion will decrease [9]

Core Viewpoint - The article discusses the recent marketing strategies employed by banks to attract customers through the distribution of Labubu blind boxes, highlighting the pressures banks face in a declining interest rate environment and the regulatory risks associated with such practices [2][11][15]. Group 1: Marketing Strategies - Banks have launched promotional activities offering Labubu blind boxes to customers who deposit a minimum of 50,000 yuan for at least three months [2][5]. - Some bank employees have resorted to using their personal commissions to purchase Labubu boxes to give away to clients, indicating a high level of competition among bank staff to meet performance targets [4][6][8]. - The popularity of Labubu among younger customers has made it an attractive incentive for banks to use in their marketing efforts [11]. Group 2: Regulatory Concerns - Regulatory guidelines prohibit banks from using gifts or other non-compliant marketing methods to attract deposits, and there have been instances of banks facing penalties for such practices [2][16]. - The article notes that several banks have already halted these promotional activities due to regulatory scrutiny [3][11]. Group 3: Market Context - The overall trend of declining deposit interest rates has intensified competition among banks, leading to innovative yet potentially risky marketing strategies [12][17]. - The People's Bank of China has recently lowered the Loan Prime Rate (LPR), contributing to the downward pressure on deposit rates and increasing the urgency for banks to retain customers [11][12]. Group 4: Future Implications - Experts suggest that while short-term incentives like gift promotions may yield immediate results, they could lead to customer attrition once the novelty wears off, emphasizing the need for banks to adopt sustainable and compliant strategies for customer retention [15][18]. - There is a call for banks to focus on enhancing service quality and product offerings rather than relying on non-compliant methods to attract deposits [18].

Core Viewpoint - The banking industry is increasingly adopting innovative methods for deposit acquisition, such as offering physical gifts and collaborating with popular IPs, amidst intensified competition and regulatory scrutiny [1][2][8]. Group 1: Deposit Acquisition Strategies - Banks are diversifying their deposit acquisition methods, moving from traditional interest rate competition to offering physical gifts and partnerships with internet platforms [2][3]. - Ping An Bank has launched a promotional activity where new customers can receive a LABUBU blind box by depositing 50,000 yuan for at least three months, highlighting the trend of using attractive gifts to draw in customers [2][3]. - Other banks, including China Merchants Bank and SPDB, are also engaging in similar promotional activities, offering various gifts to new depositors [3][6]. Group 2: Regulatory Environment - Regulatory authorities have reiterated the prohibition of improper competition in deposit acquisition, emphasizing the need for banks to comply with regulations and avoid practices that could lead to systemic risks [1][8][10]. - The recent activities by banks, such as Ping An Bank's gift promotions, have raised questions about their compliance with existing regulations against disguised interest rate increases [8][9]. - Regulatory bodies have previously outlined specific prohibited behaviors, including the use of gifts or cash rebates to attract deposits, which remain a focus of enforcement [9][10]. Group 3: Market Dynamics and Trends - The trend of "deposit migration" is becoming more pronounced as customers seek higher returns from alternative financial products, prompting banks to enhance their deposit acquisition efforts [5][6]. - The overall deposit landscape is shifting towards a higher proportion of fixed-term deposits, with a notable increase in household term deposits compared to demand deposits [4][5]. - As banks face rising interest expenses due to increased fixed-term deposits, they are compelled to find cost-effective ways to attract and retain customers, often resorting to promotional gifts [5][6].

Group 1 - Major commercial banks have lowered deposit rates, with one-year fixed deposit rates generally falling below 1% [1] - Smaller banks, such as city commercial banks and rural commercial banks, have also followed suit, with one to five-year fixed deposit rates now commonly in the "1" range, diminishing their competitive advantage [1] - Customers are shifting their funds from deposits to wealth management products, money market funds, bond funds, and insurance products to seek higher returns [1] Group 2 - The issuance rates of interbank certificates of deposit have recently increased, indicating a short-term rise in funding costs for banks [2] - The overall pressure on bank liabilities is attributed to declining deposit stability and increased reliance on active liabilities, compounded by the inability of loose monetary policy to fully offset funding demand [2] - Analysts predict that the long-term downward trend in deposit rates will continue, necessitating banks to enhance their active liability capabilities and manage high-cost deposits [2][3] Group 3 - Several listed banks are focusing on controlling liability costs, with strategies including optimizing deposit management and expanding demand for current deposits [3] - Banks are also planning to issue bonds and interbank certificates of deposit strategically when market interest rates are low to manage refinancing pressures [3] - The supply pressure of interbank certificates of deposit may not be sustainable in the medium to long term due to a lack of willingness among banks to actively expand their liability scale [3]

Group 1 - The People's Bank of China announced a reduction in the 1-year LPR to 3% and the 5-year LPR to 3.5%, both down by 10 basis points, marking the first decline this year, signaling a clear intention to stabilize the market and expectations [1] - The adjustment of LPR is expected to lower loan interest rates, which will directly impact borrowing costs for consumers and businesses [1] - Prior to this adjustment, the mortgage rates for first-time homebuyers in Beijing were 3.15%, while second-home buyers faced rates of 3.55% within the Fifth Ring Road and 3.35% outside it [1] Group 2 - A rough estimate indicates that a 10 basis point decrease in the 5-year LPR could reduce monthly interest payments by over 50 yuan for a 1 million yuan loan over 30 years, saving borrowers over 20,000 yuan in total interest [2] - The decline in deposit rates is beneficial for maintaining the stability of commercial banks' net interest margins, enhancing the sustainability of financial support for the real economy [2] - The simultaneous decline of LPR and deposit rates is expected to further lower financing costs for enterprises and residents, stimulating demand for financing, promoting consumption, and expanding investment, thereby contributing to economic recovery [2]

Core Viewpoint - The People's Bank of China has implemented a series of monetary policy measures, including a 0.5 percentage point reduction in the reserve requirement ratio and a 0.1 percentage point decrease in policy interest rates, aimed at stabilizing the market and boosting economic activity [1][2]. Group 1: Impact on Housing Market - The reduction in the housing provident fund loan interest rate by 0.25 percentage points will directly alleviate the interest burden on borrowers, leading to a decrease in monthly payments for home loans [1]. - For a 1 million yuan, 30-year loan, the monthly payment will drop from 4,136 yuan to 4,003 yuan, resulting in a total interest savings of approximately 47,600 yuan [1]. - The new interest rates will apply to newly issued housing provident fund loans, while existing loans will see a rate reduction starting January 1, 2026 [1]. Group 2: Consumer and Business Financing - The decrease in the reserve requirement ratio allows banks to have more funds available for lending, which is expected to lower interest rates on consumer loans and credit cards, thus benefiting residents with high consumption needs [3]. - The reduction in financial institutions' borrowing costs will likely lead to lower loan rates for businesses, particularly benefiting small and medium-sized enterprises [3]. - The 5 percentage point reduction in the reserve requirement for auto finance and leasing companies will enhance their lending capacity, potentially leading to lower auto loan rates [3]. Group 3: Overall Economic Impact - The overall effect of the rate cuts is anticipated to stimulate consumption and expand domestic demand, contributing to a healthier economic environment [4]. - The expected decline in deposit rates and yields on financial products may prompt residents to reconsider their asset allocation strategies [5][6]. - The increase in market liquidity is likely to boost demand for stocks and bonds, driving up stock prices and lowering bond yields [6].

昨天，发生了哪些财经大事？ 市场监管总局回应 李嘉诚旗下长和港口交易 4月27日消息，日前，市场监管总局新闻发言人就长和港口交易事回答了记者提问。 有记者问：据《华尔街日报》4月16日报道，长和出售海外港口将分拆为两个交易继续进 行，国家市场监督管理总局对此有何评论？ 答：我们高度关注有关交易，将依法进行审查。交易各方不得采取任何方式规避审查，未获 批准前，不得实施集中，否则将承担法律责任。 中纪委通报三河招牌改色事件 金价巨震！多家银行警告 纽约商品交易所6月黄金期价，继周一首次收于每盎司3400美元整数关口上方，周二盘中 一度突破每盎司3500美元整数关口，触及每盎司3509.9美元的历史新高。随着市场避险情 绪的降温，当天收盘出现小幅回落，仍收于每盎司3400美元上方。 随后在周三，金价出现大幅回落。由于市场避险情绪显著降温、大量资金获利了结。此外，美国财政 部周三拍卖的700亿美元5年期国债结果整体较为理想，部分资金重返债市，加剧了金价下行压力，多 重因素致使国际金价周三大跌3.66%。 周五，在美元走强的影响下，以美元计价的金价因此承压，当天收盘，纽商所6月黄金期价报每盎司 3298.40美元，较前 ...

Core Viewpoint - The average deposit rates for various terms are declining, with a notable increase in the spread between short-term and long-term deposit rates, indicating a shift in banks' strategies to optimize their liability structures [1][4][9]. Deposit Rate Trends - As of March 2025, the average rates for different deposit terms are as follows: 3-month at 1.249%, 6-month at 1.449%, 1-year at 1.566%, 2-year at 1.666%, 3-year at 2.042%, and 5-year at 1.883% [1][3]. - The month-on-month changes show slight increases in short-term rates (3-month, 6-month, 1-year, and 2-year) while the 3-year and 5-year rates have decreased significantly [4]. Long-term vs Short-term Deposits - There is a strong willingness among depositors to store long-term deposits, leading banks to lower long-term deposit rates to manage the risks associated with high-interest liabilities [4][8]. - Analysts suggest that banks are adopting a "short-term pressure long-term" strategy to guide customers towards shorter-term deposits, reflecting a proactive approach to managing interest rate risks [4][5]. Large Certificate of Deposit (CD) Trends - The average rates for large CDs have also shown a downward trend, with the 3-month rate at 1.386%, 6-month at 1.610%, 1-year at 1.719%, 2-year at 1.867%, 3-year at 2.197%, and 5-year at 2.038% [5][6]. - The decline in large CD rates has led to a situation where the rates for 3-year and 5-year CDs are inverted, indicating a market shift [5][6]. Market Dynamics - The narrowing interest rate spread between large CDs and regular term deposits has resulted in decreased sales of large CDs, as customers find little incentive to choose them over regular deposits [7]. - Factors contributing to the decline in large CD rates include the need for banks to optimize their liability structures, the central bank's rate cuts, and a relatively relaxed market liquidity environment [7]. Structural Deposit Trends - The average term for structured deposits is 89 days, with a slight increase in the average expected yield to 1.96% [8]. - Different types of banks show varying average terms and yields for structured deposits, with state-owned banks having the shortest average term [8]. Future Outlook - Analysts predict that deposit rates are likely to continue declining due to multiple factors, including market expectations, policy rate adjustments, and the need for banks to control funding costs [9].