The outstanding balance of structured deposits in China has risen again driven by corporate clients in the first two months of 2021. This comes as state-owned banks strive to meet their new year KPIs.

Chinese medium and small state-run banks, which are the main contributors to the structured deposits market, posted an outstanding balance of CNY4.02 trillion (US$617.5 billion) as of January-end, up 4.5% compared to the previous month – a rise that had not been seen for the whole of 2020, according to data from People’s Bank of China. Approximately 67.3% of the balance, or CNY2.7 trillion, was derived from corporates, up 6.1% compared with the end of 2020.   “I’m

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