Femorning06.19

According to Yicai, a private bank has suspended new subscriptions to its 2-year and longer time deposit products online. Prior to this, many private banks had already removed their 3-year and 5-year deposit offerings, and the product withdrawal wave is now spreading to 2-year tenors. Statistics show that bank fixed deposit interest rates across the board slid lower in May, with rate inversion seen between 3-year and 5-year terms. Analysts attribute this move to weak growth in high-quality credit assets and unsustainably high costs of deposit-taking. Banks are proactively cutting high-cost liabilities, and the whole market has entered a phase of low interest rates.

The 2026 China Shopper Report, jointly released by Bain & Company and Numerator Consumer Insights, states that China’s fast-moving consumer goods (FMCG) market is undergoing structural adjustments. The market is projected to maintain sluggish growth in 2026, with the traction of major shopping festivals such as the 618 Shopping Festival weakening and consumption shifting back to normal patterns. Artificial intelligence is reshaping consumer purchasing decisions, and its influence will extend to all product categories in the future. The report advises brands to adopt an "algorithm-driven winning strategy" and leverage data to compete in the AI era.

CCTV News reported that half a year after the full-island customs closure of Hainan Free Trade Port, 172,100 new market entities have registered for operation, representing a year-on-year increase of 61.07%. The value of goods imported under the zero-tariff policy hit 2.645 billion yuan, up 1.2 times year-on-year. The offshore duty-free policy continues to be refined; offshore duty-free sales reached 20.34 billion yuan, a year-on-year rise of 20.5%.

The Shenzhen Urban Renewal Project Industry-Finance Matching Conference, co-hosted by the Financial Work Office of the CPC Shenzhen Municipal Committee and other authorities, was successfully held in Luohu District. Eleven key priority urban renewal projects held in-depth matching sessions with commercial banks, asset management firms and other financial institutions. Financing intent agreements were signed between 12 newly launched and ongoing urban renewal projects and financial institutions, with a total contracted financing volume of 15.5 billion yuan.

CCTV News reported that as of June 18, the Three Gorges Dual-Lock Five-Stage Ship Lock, the world’s largest inland waterway ship lock, has been in operation for 23 years. It has completed a cumulative 225,000 lockage operations, passing over 1.111 million vessels and 12.327 million passengers, with total freight throughput hitting 2.4 billion tons. The management authority has continuously optimized scheduling arrangements, achieving more than 8,000 consecutive days of safe navigation.

A report by Deloitte China notes that reforms on the A-share market will boost IPOs of hard-tech enterprises. Around 160 new stocks are expected to be listed on the Hong Kong Stock Exchange (HKEX) this year, raising approximately HK$300 billion, which could place HKEX among the world’s top three fundraising venues. In the first half of the year, 78 IPOs in Hong Kong raised HK$203.3 billion, over 70% of which came from technology firms focusing on semiconductors, AI and other sectors. Around 70 A-share IPOs raised 69.3 billion yuan. Global IPO fundraising volume surged nearly fivefold, with Nasdaq ranking first and HKEX second. No Chinese concept stocks were listed in the United States in the first half of the year.

Five authorities including the Ministry of Industry and Information Technology (MIIT) jointly launched a campaign to promote new energy vehicles (NEVs) in rural areas. Relevant requirements include selecting vehicle models suitable for rural use, fully implementing policies such as vehicle purchase tax and vehicle and vessel tax reductions, as well as subsidies to improve charging and battery swapping infrastructure; setting up dedicated trade-in zones to deliver one-stop services; organizing signature promotional activities in typical county-level regions to build immersive consumption scenarios; coordinating manufacturers of sales, after-sales, charging/swapping and financial services to expand rural market coverage and upgrade supporting facilities. The official catalogue for the campaign covers 155 models, including the Xiaomi SU7 and Tesla Model 3.

At the 2026 Lujiazui Forum, the President of Goldman Sachs Asia Pacific stated that China’s technological innovation is at an inflection point, and artificial intelligence technologies are projected to lift labor productivity by 8% within a decade. Currently, China’s absolute investment in the AI sector accounts for merely 10% of that in the United States, leaving massive room for growth. Capital shortages are concentrated in the startup and growth stages, creating an urgent need to build a market-driven early-stage financing system, introduce patient capital and strengthen corporate governance frameworks. He recommended clear regulatory guidelines from policymakers, higher approval efficiency for mid-stage financing, broader exit channels for institutional investors and accelerated capital circulation.

A report by research firm Counterpoint Research shows that global smartphone sales fell 8% year-on-year in the week of May 11–17, marking nine consecutive weeks of year-on-year sales decline. Only Apple and Huawei posted positive growth, at 10% and 23% respectively.

Zeng Yuqun, Chairman of CATL, pointed out that some manufacturers seize market share at low prices with merely 60% to 70% complete technologies, and battery quality defects only emerge several years later. The root cause lies in short-sighted KPI targets and impetuous industry mindsets. As competition shifts from price wars to contests over core technology, product quality and industrial ecosystems, the era of simplistic imitation will draw to an end, and the industry will advance toward standardized, innovative high-quality development. CATL captured a 47.1% market share in the second quarter, while BYD held 17%, solidifying a stable duopoly landscape.