Morgan Stanley published a report saying that the rebound in the number of payments made by people's banks and on the Internet may indicate that the response to business activities in the mainland is stronger than the official figures, especially the data of new sales channels that have not been caught by the authorities. Coupled with the reversal of income growth and the strength of household wealth, it is expected to provide support for China's financial industry.

According to the people's Bank of China report in the third quarter of this year, the amount of money paid by the domestic bank bank card was 3.082 billion yuan, an annual increase of 4%. Under the condition of sustained growth, the growth rate may be even higher by the end of the third quarter.

According to the bank, based on domestic consumption, it is expected to support an annual increase of 6.9% in personal wealth in the third quarter of this year (4.5% higher than in the second quarter). The growth rate so far this year is about 4%. The bank's annual growth rate is expected to be higher than that of nominal GDP. On the other hand, household savings remained strong in the third quarter, growing at an annual rate of about 13.5%.

Daimo believes that the further normalization of the domestic policy and interest rate environment under the above conditions will reduce the ability to control the growth of domestic profits, and key banks such as 601166.SH, 000001.SZ and China Merchants Bank will benefit the most.