China Securities Journal reported that long-term, large-denomination certificates of deposit (CDs), which had once faded from the market, have recently seen a concentrated return. Since October, Everbright Bank and other joint-stock banks, as well as some small and medium-sized banks, have successively relaunched the issuance of 3-year and 5-year large-denomination CDs. The interest rate premium of these newly issued large-denomination CDs compared to ordinary time deposits has generally narrowed, with some products even offering lower rates than the bank's time deposits of the same tenor. Against this backdrop, the liquidity value brought by the "transferable" mechanism is becoming a core selling point for attracting customers. Banks are leveraging the liquidity premium of large-denomination CDs to find a balance in asset-liability management between controlling liability costs and stabilizing existing funds.