Core Viewpoint - The major state-owned banks in China have ceased offering 5-year large denomination certificates of deposit (CDs), indicating a trend towards shorter-term deposit products in the market [6][17][19] Group 1: Current Offerings - Industrial and Commercial Bank of China (ICBC) is currently offering a 3-year large denomination CD with a minimum deposit of 1 million yuan and an interest rate of 1.55% [1][10] - The latest 3-year fixed deposit product from ICBC has a maximum interest rate of 1.55%, with a minimum deposit requirement of only 50 yuan [1][10] - Other banks, including Agricultural Bank of China, Bank of China, and China Construction Bank, have also removed 5-year products from their offerings, focusing instead on shorter-term options [6][17] Group 2: Market Trends - The exit of 5-year large denomination CDs is not a sudden change; many banks had already phased out these products in the previous year [19] - The current market for large denomination CDs generally has a minimum deposit threshold of around 200,000 yuan [4][14] - Analysts suggest that the reduction in deposit rates may lead to a "deposit migration" effect, where funds shift from banks to capital markets seeking higher returns [7][18]

Group 1 - The Industrial and Commercial Bank of China (ICBC) is currently offering the fourth phase of a three-year personal large-denomination certificate of deposit (CD) with a minimum deposit requirement of 1 million yuan and an annual interest rate of 1.55% [1][2] - The latest three-year fixed deposit product from ICBC has an annual interest rate that can reach up to 1.55%, with a much lower minimum deposit requirement of only 50 yuan [1][2] Group 2 - The interest rates for various personal large-denomination CDs include: 1.55% for a three-year CD with a minimum deposit of 1 million yuan, and 1.20% for a one-year CD with a minimum deposit of 20,000 yuan [2][5] - Other offerings include a six-month CD at 1.10% with a minimum deposit of 20,000 yuan, and a five-year personal pension exclusive deposit with an interest rate of 1.55% [5][6]