China's certificates of deposit were officially launched on June 5, 20 15, and denominated in RMB. As a general deposit, the interest rate of certificates of deposit is higher than that of time deposits of the same term. Most of them rise by 40% on the basis of the benchmark interest rate, a few banks rise by 45%, and time deposits generally rise by about 30% at the highest.
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CDs can be used for pledge business, including but not limited to pledge loans and pledge financing. At the request of the holder of time deposit certificates, the issuer shall issue time deposit certificates through its own channels such as its business outlets and electronic banks; Shanghai Clearing House shall issue a certificate of holding a large deposit certificate issued through a third-party platform.
The first batch of certificates of deposit in China was issued on June, 2065438 15. The first issuers include Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, Shanghai Pudong Development Bank, China CITIC Bank, China Merchants Bank and Industrial Bank, all of which are core members of the market interest rate pricing self-discipline mechanism. At present, it has been extended to a number of banks.
Baidu encyclopedia-deposit certificate