PANews reported on June 12 that the People's Bank of China has released the "Administrative Measures for Large-Denomination Certificates of Deposit (Draft for Public Comment)," which will standardize the issuance of large-denomination certificates of deposit by banking deposit-taking financial institutions to non-financial institution investors. The deadline for feedback is July 12, 2026. The new regulations clarify that large-denomination certificates of deposit are general deposits, with a minimum subscription amount of RMB 200,000 for individuals and RMB 10 million for institutions. Terms range from one month to five years, and interest rates are determined through market mechanisms, potentially being fixed or linked to rates such as Shibor or DR. The measures require issuers to file annual issuance plans and fulfill information disclosure obligations. Large-denomination certificates of deposit can be issued and transferred through bank branches, electronic banking, and approved third-party platforms, and can be used for collateralized loans and other businesses.