Authoritative interpretation: It is the embodiment of the effective play of the market-oriented adjustment mechanism for deposit Intrerest Rate by authoritative figures.

On July 25th, Jinshi Data reported that major banks such as ICBC and ABC have proactively lowered their deposit interest rates based on changes in the supply and demand of funds and their own operational needs. Authoritative experts introduced that adjusting and optimizing deposit interest rates is an effective manifestation of the market-oriented adjustment mechanism of deposit interest rates. This proactive reduction of deposit interest rates by major banks such as ICBC and ABC is based on the previous decline in the 1-year LPR, as well as the market interest rate trends such as government bond yields, and it is a more market-oriented manifestation of deposit interest rates. Adjusting and optimizing deposit interest rates also helps stabilize the cost of bank liabilities and enhance the sustainability of financial services to the real economy.