中国金融行业-为何我们认为定期存款不会出现大规模流出-China Financials-Why We Don't See Time Deposit Outflows Happening

February 5, 2026 02:31 PM GMT Time deposit growth remained strong in 2025 despite a sharp deposit yield decline and already large time deposits maturing. By end 2025, retail deposits had grown by Rmb14.6tn, up 9.7% YoY, similar to overall household financial assets growth, excluding equity appreciation, at 9.8% YoY. In addition, this is in spite of the large amount of high yield retail term deposits maturing during the year (Rmb28tn), which were repriced at yields of over 110bps lower. In fact, the mix of r ...