3 月 8 日，国家主席习近平参加十二届全国人大五次会议四川代表团的审议。习近平在肯定四川一年来工作后强调，要深入推进农业供给侧结构性改革，坚定不移打赢脱贫攻坚战，扎实开展创新创造，营造风清气正的政治生态，统筹做好稳增长、促改革、调结构、惠民生、防风险各项工作。习近平指出，重视农业，夯实农业这个基础，历来是固本安民之要。我国农业农村发展已进入新的历史阶段，农业的主要矛盾由总量不足转变为结构性矛盾、矛盾的主要方面在供给侧，必须深入推进农业供给侧结构性改革，加快培育农业农村发展新动能，开创农业现代化建设新局面。

日前，国务院印发《“十三五”国家老龄事业发展和养老体系建设规划》。《规划》提出，到 2020 年，城镇职工和城乡居民基本养老保险参保率达到 90%，基本医疗保险参保率稳定在 95%以上。另外，健全完善社会保障体系。完善养老保险制度，健全医疗保险制度，探索建立长期护理保险制度。

Consumer credit, also known as consumer debt, refers to debt incurred by individual customers during the purchase of goods or services. Consumer credit includes purchases that are made with lines of credit, credit cards, and loans. Basically, there are two kinds of consumer credit. These are revolving line of credit and non-revolving line of credit, which is also known as installment credit.

In an organization, payroll is the total sum of all the compensation to be paid to the employees, which includes wages, bonuses, and deductions. The payroll is usually managed by the accounting department of a business. However, in a small enterprise, it is handled directly by the owner or the associate. Payroll is vital because payroll and payroll taxes significantly affect the net income of a company as they have to comply with the laws and regulations of the country of operations.

In 2010-2015, the international box office revenue increased by 33%. The main reason for the growing success of the film industry is the increasing coordination between the film makers and distributors regarding the screening of movies in multiplexes. The quality of movie screens is also being improved in tandem with the advances in 3D effects technology used in films. Despite technological advances, high-end home theaters and television units are unable to give a tough competition to the box office market as the moviegoers are more inclined toward the overall experience of movies that includes visual effects and screening in IMAX theaters.

Consumer drones are used to capture photos and shoot videos. They are also used as toys. Consumer drones are capable of capturing high-speed actions, distinct objects, and are designed for rugged conditions, including extreme weather. Consumer drones are equipped with GPS tracking and high-quality cameras that allow users to take photos of distinct objects, without any threat to life.

基亍我们观察到的一些数据以及对行业的长期跟踪，我们预计2017 年银行股将迎来业绩不估值的双重提振，银行板块整体将迎来上升机遇。 我们在本文中详细梳理了2017 年银行业的几个基本投资逻辑，其中也涉及到近期在金融去杠杆背景下的严监管政策—包括MPA 考核纳入表外理财、同业存单纳入同业负债等—对银行业资产负债表的影响。

板块上周走势回顾 银行: 过去一周A 股银行板块下跌0.1%，同期沪深300指数上涨0.5%，A 股银行板块跑输沪深300 指数0.6 个百分点。按中信一级行业分类标准，银行板块涨跌幅排名26/29。

随着金融去杠杆的深化，2017 年MPA 考核趋严，部分中小银行可能受到一定约束，由于预期充分，预计对基本面的影响不大。鉴于银行板块核心逻辑未变，业绩向上拐点+不良反弹趋缓带动估值中枢小幅提升，同时自2016Q4 以来融资需求持续保持比较旺盛的状态，我们看好银行基本面的企稳回升；当前板块估值处于合理偏低区间，配置价值提升，我们维持对银行板块的买入评级。

本周五银监会发布了《关于外资银行开展部分业务有关事项的通知》，通知明确，在华外资银行可以与母行集团开展内部业务协作，为“走出去”的企业在境外发债、上市、并购、融资等活动提供综合金融服务，发挥外资银行的全球化综合服务优势。