Group 1 - Non-bank deposits increased significantly in July, with a year-on-year increase of 1.39 trillion yuan, while resident deposits decreased by 1.11 trillion yuan, indicating a clear "seesaw effect" [3] - The continuous decline in deposit rates, a strong stock market, and rising demand for wealth management among residents have driven funds from resident deposits to non-bank institutions [3] - The balance of resident deposits in China has exceeded 160 trillion yuan, and with the recent rate cuts, maturing fixed-term deposits are less likely to be renewed, potentially flowing into bank wealth management products or directly into the capital market [5] Group 2 - The A-share market has been steadily rising since the beginning of the year, with the Shanghai Composite Index increasing by 3.74% in July and trading volume surging over 40% month-on-month, indicating a significant increase in market activity [7] - As the "slow bull" market becomes a consensus among investors, there is an acceleration in the reallocation of resident wealth, with funds likely to flow more into institutional equity products or directly into the stock market [7] - Long-term trends suggest that the shift of deposits will become a norm, providing continuous liquidity to the capital market, while more quality innovative enterprises will be listed for financing, creating wealth for residents [9]