Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank, Bank of Communications, and Bank of China have simultaneously lowered their deposit rates.

On July 25th, the five major banks including ICBC, China Construction Bank, Agricultural Bank of China, Bank of China, and Bank of Communications simultaneously lowered their deposit interest rates. Among them, the three-month, six-month, and one-year fixed deposit rates were all lowered by 10 basis points, respectively 1.05%, 1.25%, and 1.35%; the two-year, three-year, and five-year fixed deposit rates were all lowered by 20 basis points, respectively 1.45%, 1.75%, and 1.8%. This means that if you deposit 1 million yuan for a tenure of 5 years, the interest received will decrease from the previous 0.1 million yuan to 0.09 million yuan, a decrease of approximately 0.01 million yuan.

金吾財訊21:08 ET

Industrial and Agricultural Bank of China, among other state-owned banks, have taken action and a new round of deposit rate cuts has officially formed?

According to the Daily Economic News, a major bank will reduce its deposit benchmark interest rate on July 25, with a 20 basis point reduction for a 2-year term. More news is being updated.

wallstreetcn13:53 ET

Northbound funds | Northbound funds added positions of China mainland banking! Sold Meituan for over HKD 0.6 billion; Southbound funds reduced their positions in Moutai by over CNY 0.4 billion.

Track the latest trends of north-south directional funds.

Gelonghui FinanceJul 24 07:50 ET

Hong Kong stocks fluctuate | China mainland banking rises again, Agricultural Bank of China (01288) rises by more than 3% during trading, and bank deposit interest rates are expected to usher in a new round of cuts.

China mainland banking is rising again. As of press time, Agricultural Bank of China (01288) rose 2.6% to HKD 3.55; Industrial and Commercial Bank of China (01398) rose 2.07% to HKD 4.43; Bank of Communications (03328) rose 1.92% to HKD 5.84.

Zhitong FinanceJul 24 02:16 ET

Gemdale to Provide 250 Million Yuan Guarantee for 500 Million Yuan Project Loan; Shares Down 3%

MT NewswiresJul 24 01:01 ET

Citic Sec: Banks sector is expected to continue to recover positions, recommending two main lines.

As of Q2 2024, banks accounted for 2.45% of the heavyweight stocks held by active funds, up 0.21pct from Q1 2024.

Zhitong FinanceJul 23 20:30 ET