Zheng Quan Shi Bao Wang·2024-12-23 00:40Group 1 - The market has reached a temporary conclusion regarding policy negotiations following the important December meetings, with bank stocks expected to remain a strong direction for investment due to their high certainty [1] - The end of the year and the beginning of the new year will enter the insurance "opening red" allocation season, where bank varieties with high dividends, low volatility, and stable operations are anticipated to be favored by insurance capital [1] Group 2 - According to CITIC Securities research, the credit balance sheet for November indicates that corporate loan growth is under pressure due to hidden debt replacement, although mortgage demand has shown signs of recovery amid marginal improvements in the real estate market [2] - On the liability side, new home sales recovery and debt resolution efforts have improved the previously weak growth of corporate demand deposits this year [2] - Additionally, the continuous decline in the interest rates for time deposits, combined with a recovery in the wealth market, has led to a marginal improvement in the trend of residents' deposits becoming more time-based [2]