China's Multiple Banks Remove Mid-to-Long-Term Time Deposit Products Amid Narrowing Interest Margins
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Several private banks in China, including Zhongguancun Bank, Shanghai Huarui Bank, etc., have removed or tightened the issuance of mid-to-long-term time deposit products such as 3-year and 5-year terms. This is due to declining loan yields and shrinking net interest margins, prompting banks to alleviate operational pressure. Experts suggest banks need to shift from scale expansion to strengthening risk control and industrial finance transformation.