Core Viewpoint - The continuous decline in RMB deposit rates is forcing savers to adjust their investment strategies, seeking new avenues for income growth, while some private banks are raising deposit rates to attract customers [1][3][7]. Group 1: Changes in Deposit Rates - The RMB deposit rates have been consistently decreasing, impacting savers who traditionally relied on fixed deposits for income [3][4]. - Some private banks, like Yilian Bank, have raised their one-year fixed deposit rates to 2.00%, contrasting with the overall downward trend in deposit rates across major banks [4][8]. - As of May 22, 20 commercial banks have lowered their RMB deposit rates, indicating a widespread trend in the banking sector [8]. Group 2: Shift in Savings Behavior - There is a notable shift of household deposits from banks to non-bank financial institutions, with a decrease of 1.39 trillion yuan in household deposits in April, while non-bank deposits increased by 1.57 trillion yuan [1][7]. - Savers are increasingly exploring alternative investment products, with some finding higher returns in USD deposit products offered by various banks [5][9]. Group 3: USD Deposit Products - Several banks are promoting high-interest USD deposit products, with rates reaching up to 4.2% for six-month deposits, but these often come with conditions [5][9]. - The overall trend for USD deposit rates is also downward, with significant declines observed since the end of 2023 [8][10]. - There are concerns regarding the exchange rate risks associated with USD deposits, as the USD has shown volatility against the RMB [9][10].