非银行业周报：政策引导中长期资金入市，看好非银板块配置机会

Investment Rating - The industry investment rating is "Recommended (Maintain)" [1] Core Viewpoints - The report emphasizes the potential for investment opportunities in the non-bank financial sector, driven by policies aimed at guiding long-term capital into the market [2][4] - The insurance sector has shown resilience, with a notable increase in the insurance II index, outperforming the CSI 300 index [4][37] - The report highlights the implementation of new regulations and initiatives to enhance the quality of the capital market and promote long-term investments [40][41] Summary by Sections 1. Index and Sector Performance - The CSI 300 index increased by 0.54% this week, while the securities II index rose by 1.87% [6] - The insurance II index saw a rise of 3.21%, outperforming the CSI 300 index by 2.68 percentage points [4][6] 2. Insurance Weekly Data Tracking - The total assets of the insurance industry reached 351,923 billion, with life insurance companies holding 308,456 billion [10] - The cumulative premium income for life insurance in December 2024 was 6,717 million, reflecting a year-on-year growth of 4.7% [10] 3. Securities Weekly Data Tracking - The average daily trading volume increased by 2.67% to 1.23 trillion this week [14] - The margin balance decreased by 0.63% to 1.82 trillion as of January 23 [15] 4. Key Company Announcements & Industry News - Nanhua Futures approved a proposal to issue H shares and list on the Hong Kong Stock Exchange [3][31] - The joint issuance of a plan to promote long-term capital market investment was announced by six departments, aiming to enhance the investment capacity of insurance funds [36][41] 5. Weekly Insights - The report suggests that the insurance sector is expected to benefit from favorable policies, with a focus on improving the management of new energy vehicle insurance [38][39] - The securities sector is poised for growth due to the encouragement of insurance funds to increase their stock market investments [40][41]