Several Chinese banks have raised.......>

CHINA PRESS: Several Chinese banks have raised their interest rates to attract

more deposits at the end of the year, including two that have lifted rates to

more than 5%, the 21st Century Business Herald reported Wednesday. One reason is

that money market interest rates have gone up. Also, banks are competing more

with one another, and they need to store more cash for the customary surge in

lending at the beginning of the new year. Another factor is that banks are

losing deposits to upstart financial technology companies: the growth rate for

deposits at banks has dropped to an annualized 2% this year, on average, from

7.8% in 2016. Bank executives at a forum in Suzhou said they now pay more

attention to deposits because of the government's deleveraging campaign. (21st

Century Business Herald)