Group 1 - The core viewpoint of the article highlights that several banks have recently announced a reduction in deposit interest rates, with some term products decreasing by 20 basis points [1] - Specifically, Jiangsu Bank has lowered its 3-year deposit rate from 1.85% to 1.75% [1] - The overall decline in loan rates and the continuous narrowing of the industry's net interest margin have made it essential for banks to lower deposit rates as a means to alleviate pressure on their liabilities [1]