Core Viewpoint - The recent promotional activity by Ping An Bank, offering LABUBU toys as incentives for deposits, highlights the challenges banks face in attracting deposits amid declining interest rates and regulatory scrutiny [6][7][16]. Group 1: Promotional Activity - Ping An Bank launched a new account opening reward program called "Ping An Good Neighbor," targeting young customers by offering LABUBU toys for deposits [6][9]. - The promotion has gained significant attention on social media, with many customers actively seeking similar offers from other banks [5][14]. - LABUBU's popularity has made it an effective tool for banks to attract deposits, despite the low interest rates offered [12][13]. Group 2: Regulatory Response - Financial regulatory authorities have recently issued directives prohibiting banks from using physical gifts or collaborating with internet platforms to attract deposits [8][21]. - Banks are required to halt such promotional activities and remove related products from the market, with a deadline for existing practices set for the end of 2025 [8][21]. Group 3: Market Implications - The cost of offering LABUBU as an incentive significantly increases the effective interest rate for banks, potentially leading to higher operational costs [16][28]. - The current trend of banks using gifts to attract deposits raises concerns about market stability and the potential for disrupting normal deposit practices [17][22]. - As interest rates decline, banks are experiencing a "migration" of deposits, prompting them to adopt unconventional strategies to retain customers [25][26]. Group 4: Industry Perspectives - Experts suggest that banks should focus on enhancing service quality and product offerings rather than relying on promotional gifts to attract deposits [27][28]. - The ongoing pressure on banks to maintain deposit levels may lead to a reevaluation of their operational strategies, emphasizing sustainable growth and compliance with regulations [27][28].