This will force more people to go to #RWA and invest in digitized US Treasury bonds. The deposit interest rates have dropped too much. Although the initial intention was to encourage residents to shift their deposits towards consumption and investment, given the current domestic environment and broader context, how many people are truly willing to invest their hard-earned money? This morning, China Construction Bank, China Merchants Bank, and Agricultural Bank of China announced reductions in deposit interest rates! China Merchants Bank and China Construction Bank have lowered rates for six-month, one-year, and two-year terms by 15 basis points to 0.65%, 0.85%, 0.95%, and 1.05%, respectively. Three-year and five-year terms have been reduced by 25 basis points to 1.25% and 1.3%. The one-year rate breaking below 1% signifies that deposit interest rates have officially entered the "1" era! According to institutional estimates, every 10 basis points drop in deposit rates will lead to approximately 1.2 trillion yuan flowing out of the banking system, with about 30%-40% (360-480 billion yuan) potentially entering the A-share market. I believe not many people will choose A-shares; more will opt for Hong Kong stocks or US dollar deposits! 😂 Positive news for #RWA