Core Viewpoint - The Industrial and Commercial Bank of China (ICBC) has introduced a high-threshold large-denomination certificate of deposit (CD) with a minimum investment of 1 million yuan, while still offering a 3-year CD starting from 200,000 yuan, both with an interest rate of 1.55% [1][11]. Group 1: Product Offerings - ICBC currently offers two types of 3-year large-denomination CDs: one with a minimum deposit of 1 million yuan and another starting from 200,000 yuan, both set to mature between May 20, 2025, and December 31, 2025 [1]. - The 1 million yuan CD has already sold out, while the 200,000 yuan CD has a remaining balance exceeding 10 million yuan [1]. Group 2: Market Context - Agricultural Bank of China (ABC) also offers two types of 3-year large-denomination CDs with minimum deposits of 5 million yuan and 200,000 yuan, both at an interest rate of 1.55%, with issuance periods from October 16, 2025, to January 15, 2026 [11]. - The introduction of high-threshold large-denomination CDs by state-owned banks is seen as a market behavior aligned with regulatory requirements, aimed at precise customer segmentation and refined liability management [13]. Group 3: Regulatory Framework - The People's Bank of China has set the minimum subscription amount for personal large-denomination CDs at 200,000 yuan, with no upper limit, allowing banks to establish higher thresholds as a compliant practice [13]. - The liquidity risk associated with transferring high-value CDs is noted, emphasizing the need for customers to consider their financial planning and risk preferences when choosing between different deposit options [13].