China's state banks will cut deposit rates on Tuesday, sources say

Deposit Rate Cuts by Major Banks: China's major state banks, including Industrial and Commercial Bank of China, China Construction Bank, and Bank of China, will reduce their deposit rates to alleviate profitability pressures as the country lowers lending rates to stimulate its slowing economy.

Economic Stimulus Measures: The People's Bank of China has implemented various stimulus measures, such as interest rate cuts and liquidity injections, in response to economic challenges stemming from the trade war with the United States, aiming to support growth amid a property crisis and weak loan demand.