China’s average deposit rate declined in June from previous month
DATA
China’s average deposit rate declined in June from previous month
DATA

China’s average deposit rate declined in June from previous month

 

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Chinese banks’ average interest rate on time deposits declined in June from the previous month, according to data compiled by Rong 360, a platform on financial product information.

The average interest rate on 2-year and 3-year time deposits fell by the most, down 7.8 basis points and 11.4 basis points, respectively, showed the data.

The average rate on 3-year time deposits fell to 2.996%, falling below 3% from the first time this year.