All six of China’s major banks have resumed issuing personal large-denomination
certificates of deposit after Postal Savings Bank listed products on its
official app. On Oct. 29 Postal Savings Bank offered three notes with a 200,000
yuan minimum: two transferable 6-month CDs at 1.05% and a non-transferable
3-month CD at 0.85%, all above the bank’s comparable time-deposit rates. Bank of
China began issuing personal large-denomination CDs on July 1 with tenors from 1
month to 5 years; Agricultural Bank of China, China Construction Bank,
Industrial and Commercial Bank of China and Bank of Communications subsequently
followed.
