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Banks’ efforts to rein in funding costs have pushed average rates on time deposits and large-denomination certificates of deposits lower in recent years. Photo: VCG
Rural and privately owned lenders lifted some long-term rates to compete with state-owned banks, whose return to five-year certificates of deposits has added to pressure on smaller institutions already grappling with weak margins
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Banks’ efforts to rein in funding costs have pushed average rates on time deposits and large-denomination certificates of deposits lower in recent years. Photo: VCG

As long-term deposits mature this year, lower rates are reshaping bank funding costs and household asset allocation

The move advances a shift toward a price-based monetary policy framework

Beijing is forcing a steep cut in borrowing costs across its multi-trillion yuan consumer credit market and dismantling the core…

BEIJING (Reuters) -Five of China's biggest state-owned banks cut deposit interest rates on Tuesday, part of an expected move to…

Major Chinese lenders left their key lending rates unchanged Wednesday in an expected move, as policymakers stuck to a cautious…

China’s central bank said it will diversify loan-pricing references and further refine its short-term rate framework, as it seeks…