Core Viewpoint - Since 2022, the real estate market has been adjusting, leading to a contraction in real estate loans, while government-related loans have been on the rise, particularly in city commercial banks where the proportion of government loans has exceeded 40% in some cases [1][6] Group 1: Loan Market Dynamics - The "exit list" platform has emerged as a new growth point for bank credit, allowing financing platforms that have exited the list to operate as market entities without financing restrictions [2][3] - Government-related loans have seen a significant increase, compensating for the decline in real estate loans, with banks focusing on infrastructure projects and local government financing [6][10] - The exit of financing platforms from the list is part of a broader reform, with over 7,000 platforms expected to be reduced, which may lead to increased credit demand in the market [3][4] Group 2: Bank Strategies and Performance - Different types of banks have varying strategies for government-related loans, with state-owned banks focusing on major national and provincial projects, while city commercial banks target county-level projects [7][9] - City commercial banks have seen a significant increase in the proportion of government-related loans, with some banks like Chengdu Bank exceeding 53% [7][10] - The capital market has responded positively to banks with a high proportion of government loans, with notable increases in market value for banks like Chengdu Bank and Hangzhou Bank [10]