Galaxy Securities' research report on October 30th stated that the fiscal and monetary policies have strengthened countercyclical adjustments to promote economic recovery. The combination of real estate policies has been reinforced to support short-term credit. Accelerating the destocking of commercial housing and revitalizing existing land, improving the liquidity of real estate enterprises. In addition to the introduction of local government bonds, it will help optimize the asset quality of banks. Reductions in reserve requirements, interest rates, and existing housing loan rates have been implemented, with a neutral impact on banks' interest margins. Focus on the effectiveness of subsequent policy implementation. We remain bullish on the value of investing in the banking sector and maintain a recommended rating.