(Beijing Comprehensive News) In less than a year, China's second request for large state -owned banks to reduce deposit interest rates, further stimulate consumption and loan, and drive economic development.
Bloomberg News cited people familiar with the matter on Tuesday (June 6) that the People's Bank of China on state -owned banks including Bank of China, Industrial and Commercial Bank of China, and Bank of Communications proposed the demands of down a series of products to reduce interest rates.
Among them, five base points were reduced under the interest rate of the deposit period, and the three -year and five -year regular deposit interest rate was reduced by at least 10 basis points.People familiar with the matter said that the low -rate interest rate is not compulsory. At present, various banks are evaluating, and the earliest interest rate adjustment will be made this week.
China's State -owned Bank of China has collectively lowered personal deposit interest rates in September 2022. Bloomberg reported that this move helps banks to increase credit and reduce savings, thereby driving the economy.
Reports pointed out that by reducing deposit interest rates, consumer savings can be reduced, and more money can be used for consumption and investment.At the same time, decreased deposit interest rates will also drive loan interest rates, thereby reducing capital costs, driving residents' loans and corporate loans, allowing enterprises to come up with more funding support and development.
In addition to large state -owned banks, small and medium -sized banks are also increasing deposit interest rates.The Securities Times reported on May 16 that since April, at least 20 small and medium banks in China have lowered RMB deposit interest rates.
