Greater China Banks Daily: 5-Year CDs return, but banks remain cautious on long-duration deposit products; H126 mutual fund account openings hit 6-Year high

Research evidence excerpt

Greater China Banks Daily: 5-Year CDs return, but banks remain cautious on long-duration deposit products; H126 mutual fund account openings hit 6-Year high

Global Research

7 July 2026ab

Greater China Banks Daily Equities

China5-Year CDs return, but banks remain cautious on

long-duration deposit products; H126 mutual Banks

fund account openings hit 6-Year high MayAnalystYan

may.yan@ubs.com

+852-2971 7157

5-Year CDs return, but banks remain cautious on long-duration deposit product Alex Ye

Analyst

China Business Journal, Jul 6: Bank of China has reintroduced 5-year personal S1460522090005

certificates of deposit, drawing market attention amid a broader scarcity of long- alex.ye@ubs.com

duration deposit products. Its latest CD issuance covers seven tenors from one month to +86 755 2215 8858

five years, with the regular 3-year/ 5-year products priced at 1.55%/ 1.60%. The move

Catherine Yang, CFA

appears more like a bank-specific liability-management adjustment than an industry Analyst

inflection point. Market checks suggest ICBC, ABC and CCB mostly cap available tenors S1460526010003

at three years, with rates around 1.55%, while CMB's longest tenor is two years at catherine-za.yang@ubs.com

about 1.40%. Banks continue to prioritize deposit-cost control to counter NIM pressure. +86-755-2215 8860

Helen Li, CFA

H126 mutual fund account openings hit 6-Year high Analyst

STCN, Jul 6: China’s mutual fund market saw a sharp rise in investor participation in helen-za.li@ubs.com

H126, with new fund account openings reaching 1.8315 mn, the highest level for the +852-2971 6066

same period in six years and up 21.73% YoY. In June alone, the market added 233,600

new accounts, vs 200,400 in June 2025. The increase comes as new fund launch has

recovered steadily since April.