Group 1: Investment Banking - The new "National Nine Articles" top-level design guidelines clarify the effectiveness and direction of cultivating first-class investment banks, maintaining the long-term logic of an active capital market [1][5] - It is recommended to focus on three main logical lines: mergers and acquisitions, high "financial inclusion rate," and improvement of ROE [1][5] - Investors are advised to pay attention to large securities firms with strong capital strength and stable business operations for potential investment opportunities [1][5] Group 2: Insurance Sector - The new "National Ten Articles" emphasizes high-quality development under a strong regulatory and risk prevention framework, with policy support aimed at optimizing product design and enhancing channel value [1][5] - The insurance premium continues to show steady growth, with cumulative premiums for life insurance companies reaching 19,469 billion yuan from January to April, a year-on-year increase of 1.3%, and a monthly growth rate of 11.6% in April [4] - The first reduction of LPR in May is expected to lead to further adjustments in the predetermined interest rates for new products, potentially catalyzing "speculative suspension" and creating investment opportunities due to lower liability costs and improved asset-liability matching [4][5]