Fed rate hikes, coupled with the PBOC’s Nov. 15 hike of the foreign-exchange
deposit reserve ratio to 6%, have prompted multiple banks to lift USD
time-deposit rates, with some products topping 4%. October’s USD
wealth-management performance benchmark averaged 4.1%. Foreign banks have pushed
rates notably higher; large state-owned banks’ posted rates remain near 2.8%,
and a maturity-rate inversion has appeared.