Galaxy Securities research report pointed out that the financial industry's "squeezing water" continued, and the pace of bank credit distribution tended to be balanced. In the short term, performance was under pressure, structural monetary policy tools added, and the gradual release of the optimization effect of the debt cost side. The ban on manually supplementing interest rates continued to drive down deposit costs, and it is expected to bring opportunities for improving the fundamentals of banks. In the environment of asset shortage, it is bullish on the sector allocation value of banks, and recommends paying attention to three main lines: 1) State-owned banks with stable dividend ratios and positive basic factors accumulated, pay attention to: China Construction Bank, Postal Savings Bank of China, etc.; 2) High-quality small and medium-sized banks with stable performance, leading dividend yields and significant increase in dividend ratios, pay attention to: CM Bank, Bank of Jiangsu, etc. ; 3) High-quality regional urban and rural commercial banks with fast-growing business, prominent growth and low valuations, pay attention to: Bank of Chengdu, etc.