产品下架+利率下调的"组合拳"正在缓缓关上储户们"吃息时代"的大门。 近日，梅州客商银行一则关于停售五年期定期存款并终止自动续存服务的公告，再次将中小银行下架长期存款产品的趋势置于聚光灯下。 取消、下架、售罄，一方面，5年定期存款、大额存单加速退出江湖；另一方面，降息公告此起彼伏，存款利率向下俯冲，对于那些习惯将资金存放于银 行"躺赚利息"的储户而言，产品下架+利率下调的"组合拳"正在缓缓关上"吃息时代"的大门。 长期限存款产品"集体退潮" 11月18日，梅州客商银行在公告该行五年期存款不再提供自动转存服务时称，由于政策调整，该行已下架五年期定期存款产品。因此，已无法为持有五年 期存款的客户提供自动续存服务。上述存款到期结息后将不再自动转存，后续该笔到期资金将按活期存款挂牌利率计息。 近几个月来，多家中小银行明里暗里下架5年定期存款。诸如11月初，土右旗蒙银村镇银行通过官方微信公众号发布了关于调整该行存款利率的相关公 告。在公告中，这家村镇银行表示，综合考虑同业机构的利率水平，自2025年11月5日起，对定期人民币存款利率进行调整，取消5年期整存整取定期存 款。这是业内首家在公告中明确取消5年期定期存款产品的 ...

Core Viewpoint - Several banks are discontinuing long-term fixed deposit products, particularly 3-year and 5-year terms, in response to ongoing pressure on net interest margins, indicating a shift in the banking industry's profit model [1][6][7] Summary by Sections Discontinuation of Fixed Deposits - Multiple banks, including village banks, have announced the cancellation of 5-year fixed deposit products, with some also removing 3-year fixed deposits from their offerings [1][2][3] - As of November 10, 9 private banks have removed 5-year fixed deposit products from their apps, and some have also discontinued 3-year fixed deposits [3][6] Interest Rate Adjustments - Interest rates for 1-year and 3-year fixed deposits are now often higher than those for 5-year deposits, leading to a common phenomenon of interest rate inversion [1][3][4] - For example, the Inner Mongolia Tongyu Bank has adjusted its 1-year fixed deposit rate from 1.50% to 1.45%, while the 5-year rate has been removed entirely [2][4] Impact on Banking Profitability - The banking sector is actively managing its liabilities by reducing the rates on long-term deposits and discontinuing high-cost deposit products to mitigate the pressure on net interest margins [1][7] - A report indicates that out of 26 listed banks, 14 are still experiencing a decline in net interest margins, highlighting the ongoing challenges in the banking sector [7] Market Trends - The trend of discontinuing long-term fixed deposits is primarily observed in small and medium-sized banks, while larger state-owned and joint-stock banks still offer 5-year fixed deposits [6] - The maximum interest rate for 3-year large certificates of deposit has dropped to 1.55%, indicating a broader decline in deposit rates across the banking sector [6][7]

Core Viewpoint - Several banks are discontinuing long-term fixed deposit products, particularly 3-year and 5-year terms, in response to ongoing pressure on net interest margins and a shift in their profit models [2][8]. Summary by Sections Bank Actions - Multiple banks, including village banks, have announced the cancellation of 5-year fixed deposit products, with some also removing 3-year fixed deposits from their offerings [2][4]. - As of November 10, 9 private banks have removed 5-year fixed deposit products from their apps, and some have also discontinued 3-year fixed deposits [4][5]. Interest Rate Adjustments - Interest rates for 1-year and 3-year fixed deposits are now often higher than those for 5-year deposits, leading to a common phenomenon of "rate inversion" [2][5]. - For example, the Inner Mongolia Tuyuqi Mengyin Village Bank has adjusted its 1-year fixed deposit rate from 1.50% to 1.45% and its 3-year rate from 1.95% to 1.85% [3][6]. Market Trends - The trend of banks discontinuing long-term deposit products is primarily observed in smaller banks, while larger state-owned and joint-stock banks still offer 5-year fixed deposits [7][8]. - The maximum term for large-denomination certificates of deposit has also been reduced, with many banks no longer offering 5-year products and only providing 1-year options [7][8]. Profitability and Cost Management - Banks are actively managing their liability costs by reducing deposit rates and discontinuing high-cost deposit products, reflecting a shift towards more precise control over their funding sources [8][9]. - The net interest margin for many banks remains under pressure, with 14 out of 26 listed banks reporting a decline in this metric [8].

Core Viewpoint - The article highlights the ongoing issue of private banks in China engaging in cross-regional deposit solicitation despite regulatory restrictions, particularly focusing on Huari Bank's practices that allow non-local customers to access higher interest rates [1][2][5]. Summary by Sections Regulatory Environment - Regulatory authorities have emphasized the need for local banks to adhere to regional deposit solicitation rules, with specific guidelines established in 2021 to limit online deposit activities to local customers [4][5]. - The regulatory framework aims to prevent cross-regional deposit solicitation to maintain financial order and mitigate risks [5][6]. Huari Bank's Practices - Huari Bank offers a three-year fixed deposit product with a 2.35% interest rate, explicitly stating it is for Shanghai residents only, yet allows non-local customers to deposit through staff assistance [2][3]. - Reports indicate that multiple customers have successfully completed deposits from outside Shanghai, suggesting a loophole in the bank's compliance with regional restrictions [2][3]. Compliance Issues - Huari Bank has faced previous penalties for improper deposit solicitation methods, including a fine of 6.8 million yuan for various regulatory violations [3]. - The bank's practices raise concerns about compliance risks and potential liquidity issues, as cross-regional deposit solicitation can lead to concentrated withdrawals in specific areas [7][8]. Industry Trends - The article notes that while some private banks strictly enforce regional deposit rules, others, like WeBank and MyBank, are permitted to solicit deposits nationwide due to their internet banking status [4][5]. - The competitive landscape is pushing some banks to take risks in deposit solicitation, driven by the need to attract customers in a challenging market [9]. Legal and Operational Risks - Engaging in cross-regional deposit solicitation exposes banks to legal risks, including regulatory penalties and challenges in risk management due to the separation of operational and registration locations [7][8]. - The potential for increased competition may lead banks to raise deposit rates, further complicating liquidity management and operational stability [7][9].

Core Viewpoint - The article highlights the ongoing issue of private banks in China engaging in cross-regional deposit solicitation, despite regulatory restrictions aimed at curbing such practices. It specifically focuses on Huari Bank's actions, which appear to circumvent these regulations by allowing non-local customers to deposit funds through digital channels, raising compliance and liquidity concerns [1][2][3]. Summary by Sections Regulatory Environment - The regulatory framework mandates that most private banks adhere to local deposit solicitation principles, with exceptions for certain internet banks like WeBank and MyBank, which are allowed to accept deposits nationwide [3][4]. - The 2021 notice on regulating personal deposit business through the internet emphasizes that local banks must serve customers within their registered areas, aiming to prevent risks associated with cross-regional deposit solicitation [3][4]. Huari Bank's Practices - Huari Bank offers a 2.35% interest rate on a three-year fixed deposit, explicitly stating it is limited to Shanghai residents. However, the bank's staff have been reported to assist non-local customers in bypassing this restriction [1][2]. - The bank has faced previous penalties for improper deposit solicitation practices, including a fine of 6.8 million yuan for various compliance violations [2]. Industry Trends - There is a noticeable inconsistency among private banks regarding the enforcement of restrictions on cross-regional deposit solicitation. Some banks, like SuShang Bank, clearly restrict such activities, while others allow it [2][3]. - The article notes that some banks may use covert methods, such as "whitelisting" or direct invitations, to engage in cross-regional business, which could lead to compliance issues [5]. Risks and Challenges - Engaging in cross-regional deposit solicitation can amplify liquidity risks for banks, especially if a significant number of depositors withdraw funds simultaneously from a specific region [5][6]. - The competitive pressure to attract deposits from outside regions may lead banks to raise interest rates, increasing their funding costs and potentially pushing them towards riskier business practices [6][7]. Legal and Compliance Issues - Legal risks associated with cross-regional deposit solicitation include potential regulatory penalties, which can range from fines to operational suspensions for repeated violations [7]. - The article emphasizes the importance of compliance with banking regulations to mitigate risks and ensure sustainable operations for private banks [6][7].

Group 1 - Recent interest rate cuts by small and medium-sized banks indicate a new trend, with expectations of a 10 basis point reduction in deposit rates [1] - Shanghai Huari Bank has reduced its 3-year fixed deposit rate from 2.3% to 2.15%, marking its eighth interest rate cut this year [1] - The continuous pressure on net interest margins has led small banks to lower deposit rates to alleviate costs [1] Group 2 - The net interest margin for commercial banks has been narrowing, with figures reported at 1.52%, 1.43%, and 1.42% for the end of last year, the first quarter, and the second quarter of this year, respectively [2] - Analysts expect a potential new round of interest rate cuts and reserve requirement ratio reductions in the fourth quarter, with predictions of a 10 basis point cut [2] - The peak period for high-interest deposits is expected to be from 2022 to 2024, with a significant decline in deposit rates anticipated by 2025-2026 [2] Group 3 - Estimated maturity of nationwide fixed deposits is projected to be approximately 89 trillion yuan in 2025 and about 98 trillion yuan in 2026 [3]

Group 1: Economic Indicators - The manufacturing Purchasing Managers' Index (PMI) for August is reported at 49.4%, showing a month-on-month increase of 0.1 percentage points, indicating an improvement in manufacturing sentiment [1] - Large enterprises have a PMI of 50.8%, up 0.5 percentage points from the previous month, exceeding the neutral threshold; medium enterprises have a PMI of 48.9%, down 0.6 percentage points, below the threshold; small enterprises have a PMI of 46.6%, up 0.2 percentage points, also below the threshold [1] Group 2: Investment Trends - Central Huijin has increased its holdings in several ETFs, including broad-based ETFs and sector-specific ETFs such as those related to liquor and chemicals, as disclosed in the latest public fund mid-term report [2] - Over 430 listed companies have announced share repurchase plans this year, with a total repurchase amount exceeding 100 billion yuan; more than 440 companies have announced shareholder buyback plans, with the highest buyback amount exceeding 70 billion yuan [5] - As of the end of August, the scale of ETFs in the Shanghai market has surpassed 3.7 trillion yuan, with domestic ETFs accounting for over 70% of the total; significant inflows of over 350 billion yuan have been recorded this year [6] Group 3: Pension Fund Developments - The number of personal pension funds has increased to 303, up from 297 at the end of June, with several large fund companies participating [7] - The newly added personal pension funds since July are primarily enhanced index funds, indicating a shift in investment strategy [8]

Group 1 - Several small and medium-sized banks have announced a reduction in RMB deposit rates, with cuts ranging from 10 to 20 basis points [1] - Major banks such as Industrial and Commercial Bank of China, Agricultural Bank of China, and Bank of China collectively lowered their deposit rates for the first time since 2025, marking the seventh proactive reduction since the market-oriented adjustment mechanism was established in April 2022 [1] - As of the end of the second quarter, the net interest margin for commercial banks in China was 1.42%, a decrease of 0.01 percentage points from the end of the first quarter [5] Group 2 - The chief researcher from Zhaolian suggested that small and medium-sized banks should adopt differentiated competition strategies, focusing on regional economic characteristics and the needs of small and micro enterprises [5] - With the decline in deposit rates and improving resident expectations, the attractiveness of capital and wealth management markets may further increase [5] - The researcher from Postal Savings Bank of China indicated that deposit rates still face downward pressure, urging residents to balance returns and risks based on their investment experience and risk preferences [5]

Group 1 - Several small and medium-sized banks have announced a reduction in RMB deposit rates, with a decrease of 10 to 20 basis points, including Jiangsu Bank and Nanjing Bank adjusting their 3-year fixed deposit rates [1][12] - The six major banks have set their current deposit rate at 0.05%, with 3-year and 5-year deposit rates at 1.25% and 1.3% respectively [12] Group 2 - Chasing Technology announced plans to create the world's fastest car, a luxury electric vehicle aimed at competing with Bugatti Veyron, set to debut in 2027 [2][29] - The company has formed a team of nearly 1,000 people for this automotive venture, marking its entry into the car manufacturing industry [30] Group 3 - Cambrian Technology issued a risk warning regarding its stock, projecting annual revenue of 5 billion to 7 billion yuan for 2025, while clarifying that recent market predictions about its operations were misleading [2][15] - The company has no new product launches planned and emphasized the stability of its supply chain [15] Group 4 - Semiconductor manufacturer SMIC reported a 22% year-on-year increase in revenue to $4.456 billion for the first half of the year, with a significant rise in gross profit margin from 13.8% to 21.4% [17][18] - The company's net profit for the period was $321 million, reflecting a 35.6% increase compared to the previous year [17] Group 5 - BYD's new car registrations in Europe surged by 225.3% in July, surpassing Tesla to become a significant player in the European electric vehicle market [22][23] - The overall new car registrations in Europe increased by 5.9% to 1.09 million units, marking the fastest growth since April of the previous year [22] Group 6 - Haier's subsidiary, Kataychi Holdings, has completed the acquisition of a 43% stake in Autohome, making it the controlling shareholder [24][25] - This strategic move is expected to enhance Haier's influence in the automotive market and accelerate its expansion into the smart vehicle sector [25]

Core Viewpoint - Recent trends show that medium to long-term bank deposit rates are approaching the "1 era," with rates for 5-year deposits around 1.55%-1.6% and 3-year deposits ranging from 1.5% to 2.15% [1][5]. Group 1: High-Interest Deposit Trends - The term "deposit special forces" refers to individuals traveling across regions to open bank accounts with higher interest rates [2]. - Social media platforms have seen a resurgence of posts about "high-interest deposits" and "deposit special forces," with users inquiring about rates above 2.8% for 5-year deposits [5]. - A user reported successfully securing a 3-year deposit at a rate of 2.6%, which could yield an additional 900 yuan compared to the 2.15% rate for a 200,000 yuan deposit over one year [5]. Group 2: Risks and Considerations - A self-identified bank employee claimed a 3-year deposit rate of 3%, suggesting that smaller banks may offer higher rates to attract customers [5][15]. - However, experts caution that such high rates are rare and may be limited-time offers targeting specific customer groups [15]. - There are concerns regarding the legitimacy of online offers, with potential risks of high-interest solicitation and third-party "interest subsidies," which could lead to regulatory issues and impact deposit returns [16].