Since April, many banks, including Zhongbang Bank, Suiping Zhongyuan Village Bank, Xingning Pearl River Village Bank, Neihuang Xingfu Village Bank, Huidong Huimin Village Bank, Pingcheng Kyoto Village Bank, and Chiping Shanghai Rural Commercial Village Bank, and Chiping Shanghai Rural Commercial Village Bank, have drastically cut deposit interest rates. Currently, interest rates on large deposits at major state-owned banks are generally below 2%. For example, as of April 10, the Bank of China's 1-year, 2-year, and 3-year large deposit interest rates were 1.45%, 1.45%, and 1.9%, respectively; the Agricultural Bank and China Construction Bank's are the same as those of the Bank of China. However, the decline in deposit interest rates is nothing new for banks or customers. In addition to flows within the banking system, as interest rates on deposits decline further, the probability that deposit funds will flow from banks to non-banks will gradually increase. Generally speaking, the ratio between deposit interest rates and earnings on non-bank products determines the flow of capital. When the latter forms a significant advantage, capital will migrate from the banking system to non-bank products, resulting in the phenomenon of debt migration.

Since April, many banks, including Zhongbang Bank, Suiping Zhongyuan Village Bank, Xingning Pearl River Village Bank, Neihuang Xingfu Village Bank, Huidong Huimin Village Bank, Pingcheng Kyoto Village Bank, and Chiping Shanghai Rural Commercial Village Bank, and Chiping Shanghai Rural Commercial Village Bank, have drastically cut deposit interest rates. Currently, interest rates on large deposits at major state-owned banks are generally below 2%. For example, as of April 10, the Bank of China's 1-year, 2-year, and 3-year large deposit interest rates were 1.45%, 1.45%, and 1.9%, respectively; the Agricultural Bank and China Construction Bank's are the same as those of the Bank of China. However, the decline in deposit interest rates is nothing new for banks or customers. In addition to flows within the banking system, as interest rates on deposits decline further, the probability that deposit funds will flow from banks to non-banks will gradually increase. Generally speaking, the ratio between deposit interest rates and earnings on non-bank products determines the flow of capital. When the latter forms a significant advantage, capital will migrate from the banking system to non-bank products, resulting in the phenomenon of debt migration.