The trend of interest rate cuts in the banking industry continues: interest rates for small and medium-sized banks have begun to vary, with some small banks listing rates lower than state-owned large banks.

Following the adjustment of deposit rates by the six major state-owned banks on May 20, the "rate cut trend" has gradually spread to small and medium-sized banks. Shareholding banks, city commercial banks, rural commercial banks, rural banks, and private banks have successively followed suit in reducing deposit rates, and there is a clear differentiation in the adjustment of rates among small and medium-sized banks. In this wave of deposit rate cuts, some small-scale rural commercial banks and rural banks have experienced the phenomenon of "rate inversion", with their advertised rates even lower than those of the major state-owned banks. As for private banks, which are known for their "high interest rates", they have started to intensively reduce deposit rates since May, with some banks even lowering rates multiple times in a single month. However, currently the advertised deposit rates of private banks are generally higher than those of the six major state-owned banks.