Six major banks have suspended the sale of 5-year large denomination certificates of deposit, and the maturity of large denomination certificates of deposit has clearly become 'short-term' According to the Financial Times, several Chinese banks have successively suspended the sale of long-term large denomination certificates of deposit products. According to a reporter's investigation, six major state-owned banks including Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, Construction Bank, Bank of Communications, and Postal Savings Bank have completely suspended the sale of 5-year large denomination certificates of deposit. Some joint-stock banks and city commercial banks have also begun to shrink their long-term deposit business. The reporter found through the official apps of the six major banks that the term of large denomination certificates of deposit has become significantly "short-term", with the longest being only 3 years, and the interest rate has decreased compared to last year. For example, the interest rate for Industrial and Commercial Bank of China's 3-year products is 1.55%, while the interest rate for 1-year and 2-year products is 1.20%. In addition, Bank of China, China Construction Bank, and others have also removed 5-year products, and only a small number of certificates of deposit are available for selection in the transfer list. It is reported that the withdrawal of long-term large denomination certificates of deposit is not a sudden move. In May of this year, Bank of China announced that the 5-year large denomination certificate of deposit would only be sold to specific customers, but it has now been completely discontinued. At the same time, there has been a shortage of 3-year large denomination certificates of deposit, with some banks lowering the maximum selling period to 2 years. Liu Yinping, an analyst at Rong360 Digital Technology Research Institute, stated that this change is related to the current downward trend in interest rates, as banks tend to reduce the supply of long-term deposit products in a low interest rate environment. On the other hand, in the past two years, residents have shown a high enthusiasm for deposits, and the scale of bank deposits has grown rapidly. However, the demand for credit is weak, and the enthusiasm of banks to absorb long-term deposits is not high.