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[Brokerage Focus] Goldman Sachs: China's dining industry growth has slowed again after National Day, but the industry's long-term growth trend will not change.
Goldman Sachs | The latest research report from Goldman Sachs shows that the growth rate of china's dining industry in October 2024 has slowed down again. Although there was some improvement during the National Day period, the same-store sales growth rate (SSSG) after the holiday declined again, indicating that the demand remains weak. In October, the retail sales growth rate of dining was 3.2%, with a year-on-year decline of -0.3% in the growth rate of large dining services. Although Haidilao's table turnover rate improved during the National Day period, the situation after the holiday was similar to September. The same-store sales growth rate of Jiumaojiu brand recovered during the holiday period, but declined again after the holiday.
Interbank current deposit rates are significantly higher than policy rates. Some large banks face high liability pressures. The market expects pricing levels to be regulated.
1. Some banks' interbank current deposit rates are significantly higher than the current policy rates, significantly impacting short-term interest rates and increasing banks' liability costs. 2. The market anticipates that in the future, the level of interbank current deposit rates will be reasonably determined, effectively reducing banks' liability costs.
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Deposit interest rates have generally declined, low volatility wealth management and large-denomination certificates of deposit have been promoted. Some small and medium-sized banks still maintain a relative advantage in large-denomination certificate of
①Although the interest rate level of large-denomination certificates of deposit has decreased somewhat, compared with ordinary time deposits, large-denomination certificates of deposit have a relatively high level of return. In addition, relatively speaking, the interest rates of some small and medium-sized banks are relatively high. ②For residents, it is recommended to diversify asset allocation based on their own risk tolerance and investment and financial management needs.
China Citic Bank Corporation's retail transformation "A Decade Long Journey"
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