Local small and medium-sized banks are launching large time deposit certificates, focusing on medium to short-term products.

Recently, state-owned large banks and several joint-stock banks have restarted 5-year large certificates of deposit (CDs), while regional small and medium-sized banks are also intensively launching new large CDs. Comparatively, small and medium-sized banks have a significant advantage in CD interest rates, but their products are only offered for a maximum of 3 years, with the overall focus still on short to medium-term products. An analysis of data from China Monetary Network reveals that since July, banks including Xinjiang Bank, Baoding Bank, Jintai Rural Commercial Bank, Jiaxiang Rural Commercial Bank, Xuzhou Rural Commercial Bank, Yushu Rural Commercial Bank, and Taishun Wenyin Village Bank have successively issued announcements for large CD issuances, with some banks launching this type of product for the first time this year. The number of banks announcing new large CDs and the number of products in July are significantly higher than in June.