Multiple banks have lowered the interest rate on US dollar deposits.

Recently, with the Federal Reserve lowering interest rates again, many banks including Jiangsu Bank and HSBC Limited have lowered the interest rates on their US dollar deposit products. A wealth manager at a branch of Jiangsu Bank told reporters that the bank's US dollar deposit rates have been consistently decreasing recently, with the latest rates dropping by 0.05 percentage points compared to the previous period. The interest rates for 3-month, 6-month, and 1-year fixed-term deposits starting at $10,000 in the previous period were 4.45%, 4.35%, and 4.25% respectively. An industry insider told reporters that despite the three interest rate cuts by the Federal Reserve this year, US dollar interest rates are still relatively high, and the related products linked to them still offer high returns. It was noted that since December, several bank wealth management subsidiaries have introduced new US dollar wealth management products with relatively high yields. For example, in December, Bank of China Wealth Management and Agricultural Bank of China Wealth Management both launched fixed-income US dollar wealth management products, with performance benchmarks ranging from 3.9% to 4.7% and 3% to 4% respectively.