智通财经网·2025-08-14 07:05Core Viewpoint - Morgan Stanley reports that the Chinese government has announced interest subsidies for personal consumption loans and loans for eight types of service industry entities, which is expected to stimulate loan demand, although the financial impact on banks is anticipated to be limited [1] Group 1: Policy Impact - The interest subsidy policy is aimed at personal consumption loans and capital expenditure and working capital loans for specific service industry entities [1] - Morgan Stanley estimates that a 10% growth in consumer and eligible service industry loans would only lead to a 0.4% increase in bank revenues for the year 2025 [1] - Despite the limited financial impact, the policy is viewed positively as it may improve market sentiment [1] Group 2: Bank Recommendations - Among the rated bank stocks, Ping An Bank (000001.SZ) is expected to benefit the most if it can manage related loan credit risks [1] - Other banks such as China Merchants Bank (03968), Postal Savings Bank of China (01658), and Bank of China (03988) are also expected to benefit, with a stronger recommendation for China Merchants Bank due to its risk management capabilities [1]