ICBC resumes issuance of 5-year large-amount certificates of deposit today, with the pricing cap for the four major banks set at 1.6%.

This morning, ICBC has officially restarted the issuance of 5-year large-denomination certificates of deposit, with two products offering annualized rates of 1.60% and 1.55%, respectively. This also means that after Bank of China, Agricultural Bank of China, and China Construction Bank, the three major state-owned banks, successively launched 5-year large-denomination certificates of deposit in July, ICBC has chosen to follow suit. Currently, it appears that the highest pricing for the 5-year large-denomination certificates of deposit among the four major banks is 1.6%. Industry insiders believe that the actions of the four major state-owned banks will provide a guiding effect on the banking sector, suggesting that "more small and medium-sized banks may follow suit in the future."