Core Viewpoint - The upcoming National Day and Mid-Autumn Festival have triggered a new round of deposit marketing competition among local banks, with various promotional strategies being employed to attract depositors, including higher interest rates and gift incentives. However, the declining interest rate environment poses challenges for sustainable deposit structures and customer retention beyond mere financial incentives [1][5][10]. Group 1: Deposit Marketing Strategies - Local banks are intensifying their deposit marketing efforts by launching unique deposit products with slightly higher interest rates than standard fixed deposits, as well as implementing "points exchange" and "gift-giving" strategies to attract customers [1][3]. - For instance, Pujiang Rural Commercial Bank introduced a "Filial Piety Deposit" product with a starting amount of 100,000 yuan, offering a 3-year interest rate of 2%, which yields 6,000 yuan upon maturity [3]. - Similarly, Fudian Bank has diversified its deposit product offerings, including personal large-denomination certificates of deposit and special products for new customers, with interest rates ranging from 1.45% to 1.95% depending on the term [4]. Group 2: Challenges and Regulatory Concerns - The competitive advantage of local banks in terms of high interest rates has diminished due to multiple rounds of interest rate cuts, leading to a convergence towards industry averages [4][5]. - The use of gift incentives for deposit attraction raises regulatory concerns, as it may violate guidelines that prohibit improper methods of deposit solicitation, such as cash returns or gifts [9]. - Regulatory scrutiny has increased, with local banks facing pressure to comply with rules that restrict promotional practices that could be interpreted as disguised high-interest deposit solicitation [9][10]. Group 3: Long-term Strategies for Local Banks - To adapt to the low-interest-rate environment, local banks need to rethink their deposit strategies, focusing on building sustainable liability structures and enhancing customer loyalty beyond financial incentives [1][5][11]. - Experts suggest that local banks should improve their service capabilities, strengthen risk management, and develop long-term strategies to remain competitive in the market [6][11]. - Additionally, local banks are encouraged to integrate community financial services, leverage financial technology, and optimize liquidity management to reduce reliance on high-cost deposits and enhance operational efficiency [11][12].