Several state-owned and joint-stock banks, including Bank of China, China
Construction Bank and Ping An Bank, have relaunched five-year large-denomination
certificates of deposit as lenders seek to lengthen liabilities amid NIM
pressure and shorter deposit tenors. ICBC client managers say five-year large
CDs and standard five-year deposits are on sale at about 1.6% but with limited
quotas; Agricultural Bank’s Shenzhen branch offers ordinary five-year deposits
at 1.6% while not listing large-denomination CDs. Market checks indicate some
issues reach 1.75%. Botong Consulting chief analyst Wang Pengbo says banks
are using long-term large CDs to attract more stable core funding and alleviate
asset-liability duration mismatch, framing the reintroductions as temporary
liability-management measures rather than a permanent funding strategy shift.
