China government bond futures midday close: 2-year (TS) -0.02%, 5-year (TF) -0.04%, 10-year (T) -0.06%, 30-year (TL) -0.25%.

Several private Chinese banks recently cut mid- to long-term time deposit rates from the 2%-range to the 1%-range; some have withdrawn mid/long-term fixed-deposit products. Analysts say the private banks' high-yield deposit funding advantage is fading, accelerating industry restructuring, altering household savings allocation, and forcing private banks to pursue differentiated business or funding strategies to break homogeneity.

Omdia data shows global online-video subscription users at 2.24 bln by end-2025, up from 1.9 bln in 2024 (+17.6% YoY); growth is expected to slow to single digits in 2026 as the market matures. Global paid TV subscriptions fell 1.8% YoY to 1.03 bln. Streaming now represents 68.4% of total global TV and video subscriptions (3.3 bln).