On December 16, Glory Exchange reported that JPMorgan released a research report indicating that considering the authorities' more proactive policy tone to stimulate consumer spending, it is expected to benefit the bank's loan portfolio. In addition, with the expansion of individual pension plans in the mainland, the financial market outlook remains cautiously optimistic. The recent correction will be an opportunity for investors to increase shareholding in high-quality Chinese financial stocks. JPMorgan believes that authorities will also prioritize preventing financial risks, which may indicate a stabilization of net interest margins. It is expected that the central bank will introduce stronger measures to reduce bank financing costs and lower LPR rates, with hopes for loan growth recovery, a moderate rebound in capital market sentiment, and consumer spending, all of which are favorable for the growth of banks' fee income. The bank predicts that in a rate-cut environment, households' asset allocation towards stocks, funds, and insurance products will increase. The bank is more bullish on those banks that are sensitive to capital markets and retail business, with their top choice being China Merchants Bank, followed by Ping An Bank. They also have a positive outlook on China Construction Bank and other institutions that can provide stable profits and dividend returns, as well as life insurance companies like China Life and Ping An Insurance, which have strong distribution channels and good solvency.