Multiple small and medium-sized banks have raised deposit interest rates against the trend, with increases exceeding 30 basis points.

Since August, several small and medium-sized banks in Hubei, Guangdong, and other regions have consecutively raised their deposit interest rates. As August progressed, numerous urban commercial banks, rural commercial banks, and village banks announced increases in their published deposit rates or rates for specialized deposit products. Overall, the adjustment range across various banks was between 10 to 33 basis points. Against the backdrop of a general decline in macro market interest rates and ongoing efforts by the banking sector to reduce funding costs, many small and medium-sized banks had lowered their deposit rates. Therefore, this "counterintuitive" approach has drawn market attention. Industry insiders believe that this move clearly reflects a phase-specific strategy to attract deposits and is not universally applicable. Additionally, it is not directly related to the recent collective revival of five-year large denomination certificates of deposit by certain state-owned banks.