行业周报（第二十六周）：ETF成交放量，把握优质股

Financial Data and Key Indicators Changes - The financial stability bureau indicated that overall financial risks in China are controllable, with most banking institutions operating steadily, particularly the 24 major banks which account for about 70% of total banking assets [9][18] - The average net interest margin for banks is expected to be better than the initial target for the year, with a projected margin of around 1.86% for Q2 [39] Business Line Data and Key Indicators Changes - The securities sector has seen a significant increase in ETF trading volume, with broad-based index ETFs experiencing a notable surge [10][20] - The insurance sector is expected to face challenges in the coming months, with performance likely to follow market fluctuations and interest rate changes [55] Market Data and Key Indicators Changes - The Shanghai Composite Index closed at 2,967 points, down 1.03% week-on-week, while the Shenzhen Component Index fell 2.38% [41] - The average daily trading volume in the stock market decreased by 6.27% week-on-week, totaling 3.33 trillion yuan [41] Company Strategy and Development Direction and Industry Competition - The central bank emphasized the need for a stable monetary policy to support key sectors and promote healthy development in the real estate market [7][19] - The China Securities Regulatory Commission is working on a comprehensive package of measures to deepen capital market reforms, focusing on high-quality development of listed companies [19][39] Management's Comments on Operating Environment and Future Outlook - Management noted that while the economy is recovering, challenges such as insufficient effective demand and weak social expectations remain [7][18] - The focus will be on maintaining a balance between economic growth, structural adjustments, and financial risk prevention [19] Other Important Information - The insurance sector is encouraged to leverage long-term capital to support venture investments, addressing the industry's funding challenges [31][56] - The banking sector is expected to continue supporting the real economy, with a focus on technology and green finance initiatives [19][56] Q&A Session Summary Question: What is the outlook for the banking sector's net interest margin? - The net interest margin is expected to be better than the initial target for the year, with Q2 projections around 1.86% [39] Question: How is the insurance sector expected to perform in the coming months? - The performance of the insurance sector is likely to be lackluster, following market fluctuations and interest rate movements [55] Question: What measures are being taken to support the real estate market? - The central bank is implementing policies to ensure the effective implementation of financial measures to promote stable development in the real estate market [19]