A mobile wallet allows consumers to make transactions even during travel, from any location, anytime. It not only provides transaction facilities at affordable prices but also facilitates consumers to manage their accounts easily. While all these aspects boost the growth of the mobile wallet industry, consumers’ concerns related to security and technology infancy, investment, and deployment issues are expected to impede the growth of the mobile wallet market. Although these restraints are prevalent, companies from the telecommunication industry are collaborating with each other to serve the needs of their customers with new and improved product/service innovation. Wide adoption of smartphones indicates the accessibility level for mobile wallet. Smartphone users are able to make the most of the mobile wallet functionalities, and it is expected that more such users will come up in the next few years owing to plenty of benefits that the mobile wallet provides.

The prepaid card market is expected to exhibit high growth during the forecast period, owing to the convenience offered similar that of a credit or debit card with the ability to allow you to set your spending limit according to budget. Prepaid cards are basically a plastic alternative to carrying money around and are often called everyday cards. Prepaid cards take the place of cash, checks, and other payment cards where consumers or businesses want to use an electronic means of payment, but do not want to link the payment to a credit or debit account. However, various fees and security issues are expected to restrain the market growth. These restraints are expected to have a reduced impact in the near future, owing to the increasing popularity of prepaid cards among teenagers and students. Rise in demand for cash alternatives, increase in number of internet users, booming e-commerce industry and increase in adoption of prepaid cards because of adding funds through multiple avenues fuels the growth of the market. However, lack of standardization and prone to fraudulent attacks which can hampers the growth of the market. Furthermore, increase in unbanked and underbanked population offers lucrative opportunities for the market growth globally.

Globally, the demand for convenience foods is growing at a faster pace due to changes in social and economical patterns, as well as increased expenditure of food and beverage, awareness about healthy foods, changes in meal patterns and existing food habits, and the desire to taste new products. The United States is the largest market for convenience foods in the world, and the emerging markets of Asia- Pacific, the Middle East, and Latin America are projected to see future growth for the same. On-the-go snacking is becoming extremely popular, especially among the working-class people, teenage children, people living in hostels, and bachelors due to their hectic lifestyles. Moreover, the on-the-go snacking concept is closely associated with easy consumption and handling of products, which snack bars offer. Thus, the demand for snack bars is increasing due to the linked convenience of consumption, aided by disposable packaging that prevents the bars from coming in contact with hands, keeping them clean to work, simultaneously. Presently, consumers are allocating less time for traditional grocery shopping, due to busier schedules. Due to the same, they are also not able to take out time for proper meals and, therefore, opt for on-the-go snack bars in order to satisfy their hunger.

投资建议：车险综合改革有望促进险企高质量发展，长期将对财险公司产生正面影响，未来险企保费收入提升存在一定空间。头部险企科技业务布局较早，在定价能力、风控能力、获客能力方面具有较大优势，有望更快适应车险综合改革带来的影响，预计市占率将进一步提升。

上半年理财规模平稳增长，净值型占比明显提升，部分银行保本理财 已清零，“资管新规”过渡期延长至 2021 年底，预计上市银行基本 可以按时完成整改。

资金市场流动性有所紧张，预计 9 月央行操作边际改善。近期资金市场紧张主 要由于银行资负结构调整、信用投放和直融分流所致，但 9 月季末月信用投放 需求旺盛下，央行公开市场操作思路料将边际改善，稳定银行体系流动性格局。

寿险2020 年1-7 月实现原保费收入16,882 亿元，同比增长4.6%，保持正增长趋势；7 月单月同比增速为13.8%，疫情影响消除，连续4 个月保费正增长。健康险1-7 月实现原保费收入4,488 亿元，同比增长19.3%；单月同比增速为14.7%，仍领先寿险，单月同比增速小幅度上升但总体稳定，行业保费增速持续修复。

2020年9月9日，银保监会发布《关于保险资金投资债转股投资计划有关事项的通知》，就适用监管政策、投资条件、投资管理和投资金额等作出规范。

中国人民银行 2020 年 8 月 31 日发布《参与国际基准利率改革和健全中国 基准利率体系》白皮书，研究健全我国基准利率体系的进展和计划。我国基 于实际交易的利率体系运行已久，基准利率体系的进一步完善已具备良好 基础。本次央行提出了以培育 DR（存款类金融机构间的债券回购利率）为 重点的建设方案，通过创新和扩大 DR 在浮息债、浮息同业存单等金融产品 中的运用，将其打造为中国货币政策调控和金融市场定价的关键性参考指 标，以推动各类基准利率的广泛运用。对于银行业而言，当前我国已有基于 MLF、LPR 引导银行贷款定价的传导机制，但其他金融产品涉及的全方位 金融体系的货币传导机制仍有待完善。本次白皮书将完善从央行、商业银 行、非银金融机构和债券市场的利率传导体系，对于更加灵活地调控银行负 债成本，打开资产端利率调整空间具有积极意义。

蚂蚁集团：起步于2004 年成立的支付宝，多年来在互联网金融领域不断深耕布局，从支付工具起步，逐步构建全数字金融服务体系。