Against the backdrop of an overall decline in deposit interest rates, foreign banks such as HSBC, Standard Chartered, DBS, and Yongfeng have been intensively listing large RMB deposits since October. Yongfeng Bank's three-year annualized interest rate reached 1.92%, up nearly 40 basis points from major state-owned banks during the same period. The Bank of East Asia also issued multiple 1.90% three-year products during the year. Standard Chartered, HSBC, etc. focus on short-term products within a period of one year. Rong360 analyst Ai Yawen believes that the core of this move by foreign investors is to reserve RMB capital for cross-border business and make up for shortcomings in retail debt, but high-interest savings will erode profits, making it difficult to sustain for a long time.

Against the backdrop of an overall decline in deposit interest rates, foreign banks such as HSBC, Standard Chartered, DBS, and Yongfeng have been intensively listing large RMB deposits since October. Yongfeng Bank's three-year annualized interest rate reached 1.92%, up nearly 40 basis points from major state-owned banks during the same period. The Bank of East Asia also issued multiple 1.90% three-year products during the year. Standard Chartered, HSBC, etc. focus on short-term products within a period of one year. Rong360 analyst Ai Yawen believes that the core of this move by foreign investors is to reserve RMB capital for cross-border business and make up for shortcomings in retail debt, but high-interest savings will erode profits, making it difficult to sustain for a long time.