2018 年资管新规发布后，资管规模连续两年下滑，2020 年已重回增长。银行理财目前净值化比例预计已经达到近九成，去通道、去嵌套效果显著。理财子公司已逐渐发展成为理财市场的主力军。中长期看，渠道优势助力理财子公司规模扩张，居民财富扩张，理财规模发展空间较大，对银行理财子公司而言，探索和加强对权益类资产布局是大势所趋。综合估算，2022 年银行理财给股市带来的增量资金规模预计达到700 多亿元。

政策方面，稳增长政策持续发力，市场流动性维持充裕，全年成交额有望保持高位。资本市场深化改革持续推进支撑证券行业长期向好。当前证券行业PB 估值仅1.6x，处于近10 年PB 的20%分位数，板块具备配置价值。建议关注财富管理转型下的头部券商投资机会，维持行业“增持”评级。

根据财联社报道，2 月22 日，六大行统一下调广州地区房贷利率，其中首套房利率从此前的LPR+100bp（5.6%）下调至LPR+80bp（5.4%），二套房利率从此前的LPR+120bp（5.8%）下调至LPR+100bp（5.6%）。回溯历史，按揭贷款利率基本上领先房地产销售面积增速约一个季度，即在2011 年Q4、2014 年Q3 以及2019年Q4 时点，按揭贷款利率见顶回落时，大致再经历一个季度时间，房地产销售
面积增速开始触底反弹。

在经济面临“三重压力”下，“稳增长”政策开始逐步发力，“宽信用”预期随之而起。投资端主要驱动力量加码，基建项目前置、房地产政策边际转暖，叠加上市银行整体基本面优质、板块估值及机构持仓比例处于相对低位，银行板块自2021 年12 月下旬以来表现强势，年初至2 月18 日收盘指数累计上涨7.6%，跑赢沪深300 指数13.40pct，同时录得较好的绝对收益和相对收益。其中，成都（+23.0%）、兴业（+20.2%）、常熟（+19.1%）、江苏（+18.7%）、杭州（+18.3%）、苏农（+16.0%）、南京（+15.0%）等涨幅居前；整体上，优质区域城农商行表现更为突出。

专属商业养老险是基于万能险开发的一种新型产品，采取“保底+浮动”的收益模式，设臵了稳健型以及进取型两类投资账户，以满足不同风险偏好的消费者需求，并且结算利率会按时公布。因此专属商业养老保险具有收益稳健透明、收益率相对较高的特点。截至2022 年1 月底，原6 家试点公司累计承保保单近5 万件，累计保费4 亿元，其中快递员、网约车司机等新产业、新业态从业人员投保近1 万人。我们预计，伴随试点范围的显著扩大，潜在客群和市场消费需求将有大幅度扩张，专属商业养老保险保费有望实现快速增长，同时更为丰富多元的新产业、新业态场景有助于提升保险公司产品设计和服务运营能力。

Cross-border payments or international payments are defined as payments made to merchants or sellers in a location that is different from the buyer’s country. International Remittances are defined under the International Organization for Migration (IOM) as encompassing any personal money transfers across borders by migrants to family or relatives, typically back to the country of their origin. The remittance industry can be segmented into formal and informal channels. The focus of this study is on the formal channel, which includes money transfer operators—banks and non-banking institutions (including FinTechs).

A credit card is a piece of metal or plastic issued by a financial services company or banks, which allows cardholders to borrow funds to pay for goods and services with different types of merchants. Furthermore, credit cards provided by the banks and other fintech institutions help customer purchase different types of services on credit without having to put up cash at the point of sale. Instead, the charges accrue as a balance that must be paid off on a monthly billing cycle, giving the buyer more time to get the cash together. Rise in demand for cash alternatives and availability of affordable credit cards across the globe boost the growth of the global credit card payments market. In addition, rise in demand for credit card among the developing nations positively impacts the growth of the market.

Employment screening services help in identifying the authenticity of a candidate for the security of the organization and to safeguard the organization from fraudulent candidates. Numerous benefits provided by the employment screening services include reduced workforce violence, protect inattentive hiring, and meet the regulatory, insurance, and customer requirements of the organization. Furthermore, developing economies offer significant opportunities for employment screening services to expand & develop their offerings, especially among emerging economies such as Australia, China, India, Singapore, and South Korea. This is attributed to developing economies such as India and China, which are highly populated and therefore, possess high prospects of employment. This is further expected to provide lucrative opportunities to the employment screening services market in the coming years.

Enterprise resource planning (ERP) is a modular software system primarily designed to integrate the main functional areas of an organization's business processes into a unified system. An ERP system includes core software components, often called modules, which focus on essential business areas such as finance and accounting, human resource (HR), production and materials management, customer relationship management (CRM), supply chain management, and others. Organizations choose which core modules to use based on the business importance. ERP software enables efficient resource management and integration of organizational activities and its implementation enhances the operational efficiency, thus providing competitive edge to enterprises.