After a lapse of three months, major state-owned banks once again joined hands to lower deposit interest rates. On October 18, ICBC, Agricultural Bank, China Bank of China, Bank of Communications, and Postbank collectively lowered interest rates on deposit listings. They all lowered demand deposit interest rates by 5 basis points to 0.1%, and interest rates on time deposits were all lowered by 25 basis points. Among stock banks, China Merchants Bank took the lead, and interest rates for various term deposits were consistent with major state-owned banks. “Increased amplitude and increased frequency” is the industry's unanimous evaluation of this reduction in deposit interest rates. Industry insiders believe that the decline in deposit interest rates will help banks and financial institutions to further reduce comprehensive financing costs for the real economy and ease the burden of interest expenses on weak links and enterprises in key emerging sectors.

After a lapse of three months, major state-owned banks once again joined hands to lower deposit interest rates. On October 18, ICBC, Agricultural Bank, China Bank of China, Bank of Communications, and Postbank collectively lowered interest rates on deposit listings. They all lowered demand deposit interest rates by 5 basis points to 0.1%, and interest rates on time deposits were all lowered by 25 basis points. Among stock banks, China Merchants Bank took the lead, and interest rates for various term deposits were consistent with major state-owned banks. “Increased amplitude and increased frequency” is the industry's unanimous evaluation of this reduction in deposit interest rates. Industry insiders believe that the decline in deposit interest rates will help banks and financial institutions to further reduce comprehensive financing costs for the real economy and ease the burden of interest expenses on weak links and enterprises in key emerging sectors.