“If you deposit 10 million yuan in the bank on June 30 and withdraw them on July 2, the interest can be up to 160,000 yuan.” 

As the mid-year assessment deadline looms, some banks are becoming very anxious. According to a journalist from National Business Daily, certain banks in the Zhejiang province city of Wenzhou have even been offering daily interest of between 0.6% and 0.8% to attract deposits.

A group of agencies has emerged seeking funds to deposit at the high rates and these agencies have channeled a large amount idle capital into the banks. 

Source

China Securities Journal
Google translation