How long does it take for bank product changes to be announced in advance?
Three months in advance. The China Banking Regulatory Commission, the People's Bank of China and the National Development and Reform Commission jointly issued the Measures for the Administration of Service Prices of Commercial Banks (Draft for Comment) for public comments. The "Measures" clearly distinguish between government pricing and market-regulated prices. Compared with the previous version, the regulatory penalties are more detailed, requiring commercial banks to fulfill their obligations of clearly marking prices and reporting, and price adjustments must be announced at least three months in advance.