Some banks' large time deposits have fallen below zero, and many banks' large time deposit rates have been lowered.

Recently, reporters have noticed that the interest rates of large-denomination certificates of deposit issued by several banks since the beginning of the year have decreased compared to last year. Some banks' short-term product rates have dropped to below 1%, entering the "0" range. Currently, several state-owned banks such as Industrial and Commercial Bank of China, Agricultural Bank of China, and Bank of China have lowered their 1-month and 3-month period large-denomination certificate of deposit rates to 0.9%, significantly lower than previous years. Small and medium-sized banks such as Ningxiang Rural Commercial Bank in Hunan and Suichuan Rural Commercial Bank in Jiangxi have also recently lowered their rates for 3-month and 6-month period large-denomination certificates of deposit. Among these, the 3-month period large-denomination certificate of deposit issued by banks such as Tengchong Rural Commercial Bank in Yunnan have already dropped below 1%, entering the "0" range. In addition, the 5-year period large-denomination certificates of deposit are no longer available on the mobile apps of many banks, with only 2-year period and shorter term products remaining. Industry insiders point out that with the recent structural interest rate cuts and reserve requirement ratio cuts by the central bank, as well as commercial banks stabilizing their net interest margins, the issuance scale of bank time deposits may continue to shrink in the future, and interest rates may continue to decline.