China’s Major State-Owned Banks Halt 5-Year Large-Denomination CDs

Several leading joint-stock and city commercial banks also reduce long-term deposit issuance, signaling tighter conditions in China’s fixed-term savings market.

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Terms & Concepts
  • Large-Denomination CD: A certificate of deposit offered in high minimum amounts, typically yielding higher interest rates than standard savings accounts.
  • Joint-Stock Bank: A commercial bank owned by shareholders, distinct from state-owned institutions, often with mixed private and government ownership.
  • City Commercial Bank: A regional bank in China focused on serving local businesses and residents within specific urban areas.