Ping An Bank offered Labubu collectibles for new depositors who could park in 50,000 yuan ($6,960) for three months.

Ping An Bank offered Labubu collectibles for new depositors who could park in 50,000 yuan ($6,960) for three months.

Retail banks on the mainland struggle to attract young customers amid low deposit rates and customer declines, analysts say.

Regulator asks local banks not to give non-compliant perks amid fierce competition as interest rates fall

A Chinese bank was ordered to stop its practice of enticing new customers by offering them free Labubu dolls.