(Yicai Global) Dec. 20 -- A bank in the Chinese city of Hangzhou that has been enticing new depositors with a novel offer of free pork is most likely breaking the law.

Article 47 of the Commercial Bank Law states that any cash or non-cash incentive, other than promotional interests rates, is considered a hidden interest rate and lenders may not use them to attract new deposits or promote borrowing.

The Hangzhou bank in question had been handing out one pound of pork to customers for every CNY10,000 (USD1,430) they deposited, local newspaper City Express reported on Dec. 17. Pork has become a prized commodity in China after African swine fever devastated the country's hog herds, sending pork prices through the roof.

The lender reportedly dished out nearly 1,100 slabs of meat on the first day of the promotion, but staff refused to disclose to City Express how much the bank had bagged in new deposits.

Pork prices in China more than tripled this year to CNY80 (USD11.41) per kilogram from just CNY24 as the pig-killing virus swept through farms across the nation and apparently made its way into the wild, after three dead boar in Shaanxi province were found with African swine fever earlier this month.

Small gifts such as face masks, tissues, nuts, rice and oil are all common incentives that banks use to lure in depositors, though Ping An Bank caused a stir in Beijing last year when it offered smartphones and cars.

Ping An Bank was prepared to give an iPhone 6 Plus to customers who deposited CNY38,000 for five years, and a Mercedes-Benz A180 Sedan for those putting CNY903,000 (USD129,000) into a five-year time deposit.

Editor: James Boynton