Core Viewpoint - Construction Bank's mid-year performance shows positive growth in both operating income and pre-provision profit, driven by strategic measures to enhance financial supply and risk management [1][5]. Group 1: Financial Performance - Non-interest income reached 107.56 billion yuan, an increase of 17.66 billion yuan, or 19.64%, year-on-year, accounting for 27.28% of total operating income [5]. - The net interest margin for the first half was 1.40%, down 0.14 percentage points from the same period last year, with expectations for a gradual narrowing of the decline in future quarters [3]. - Average annual cost rate of deposits decreased by 32 basis points compared to the same period last year, indicating effective cost management [3]. Group 2: Strategic Measures - The bank implemented four key measures: enhancing balanced development capabilities, accelerating the cultivation of new growth drivers, improving comprehensive cost management, and solidifying risk control foundations [1]. - The bank is focusing on optimizing asset allocation by controlling low-yield assets and increasing investments in higher-yield loans and bonds [3]. Group 3: Loan Growth and Market Strategy - The introduction of personal consumption loan interest subsidy policies is expected to lower borrowing costs and stimulate growth in personal and service industry loans [4]. - Infrastructure-related loans grew faster than the average for corporate loans, with a 0.23 percentage point increase year-on-year, supported by national key projects and special bond usage [4]. - The bank's second-hand housing loan issuance ranked first in the industry, with a year-on-year increase of over 20%, contributing significantly to overall loan growth [6].