Multiple Chinese rural commercial banks have launched a new round of deposit rate cuts since May, with lenders in Shanxi, Guangdong and Inner Mongolia lowering rates by as much as 35 bps. Following the cuts, 1Y-3Y deposit rates at many banks have lar

2026-05-20

Multiple Chinese rural commercial banks have launched a new round of deposit rate cuts since May, with lenders in Shanxi, Guangdong and Inner Mongolia lowering rates by as much as 35 bps. Following the cuts, 1Y-3Y deposit rates at many banks have largely fallen into the 1% range. (Economic Daily)