The balance of structured deposits has dropped 48.2% to CNY267 billion (US$40.9 billion) as at the end of 2020 year-on-year (YoY) as the Chinese commercial bank scaled-down its issuance.

Accordingly, the proportion of structured deposits for the total deposits from 11.2% to five percent during the same period. The impact was limited due to a 16.8% increase of deposits at CNY5.4 trillion at China Merchants Bank (CMB), according to the bank’s annual report ended in December 2020. The ‘historical’ rise at the bank led by Tian Huiyu (pictured) was attributed to the rapid growth of M2 and the bank’s wider adoption of digital banking in 2020. The momentum is e

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