Citigroup 1月12日长篇报告，64页。
　　Sector rebound should have legs；top picks Ping An & China Life—We reiterate our view of a sector rebound，as valuations remain undemanding（close to trough valuation；below ex-growth values），with life insurers，in particular，remaining key reflation beneficiaries.Interest spreads should be bottoming out as long bond yields rise and products’guaranteed rates fall.Life insurance reserving pressure could also start to ease in 2H17.We have rolled our TPs to 2017E.Our top picks are Ping An and China Life.