Core Viewpoint - The frequent reduction of deposit rates by private banks has become a norm this year, with Blue Ocean Bank lowering its 7-day notice deposit rate to 1.25%, marking the eighth adjustment in 2023 [1][3]. Group 1: Deposit Rate Adjustments - Blue Ocean Bank has adjusted its "Blue Baby" fixed deposit rates, with 3-month, 6-month, 1-year, 2-year, 3-year, and 5-year rates at 1.45%, 1.55%, 1.75%, 1.80%, 1.95%, and 2% respectively [1]. - The bank's large-denomination certificate of deposit rates are 1.5% for 1-month, 1.55% for 6-month, and 1.85% for 1-year [1]. - The trend of lowering deposit rates is evident across private banks, with Shanghai Huari Bank and Fujian Huatong Bank also making multiple rate cuts this year [3]. Group 2: Rate Differentiation Among Private Banks - There is a noticeable differentiation in deposit rates among private banks, with leading banks like WeBank offering lower rates compared to others [5]. - WeBank's rates for 3-month, 6-month, 1-year, 2-year, and 3-year deposits are 1.05%, 1.30%, 1.40%, 1.50%, and 1.50% respectively [5]. - The differentiation in deposit rates is attributed to varying business models, with WeBank leveraging its large user base from WeChat to maintain a competitive edge despite lower rates [5].