According to CCTV on October 18, this morning, several major banks announced a reduction in the RMB deposit benchmark interest rates. The last round of nationwide commercial bank deposit rate cuts began on July 25, with the 1-year, 2-year, 3-year, and 5-year fixed deposit rates of major state-owned banks dropping to 1.35%, 1.45%, 1.75%, and 1.80% respectively. Based on this calculation, the three-year deposit interest rate decreased by 0.25 percentage points. If 200,000 yuan is deposited for three years, the interest for three years will be reduced by 1,500 yuan. In recent times, many small banks have also announced a reduction in deposit rates. Since October, banks in Guangxi, Guizhou, Guangdong, Hainan, Henan, Liaoning, and Xinjiang have adjusted their deposit rates. Some banks have reduced rates by up to 50 basis points.