Xin Lang Cai Jing·2025-07-01 06:24Core Insights - The National Healthcare Security Administration and the National Health Commission issued measures to support the high-quality development of innovative drugs, focusing on the entire chain from research and development to payment systems [1] - The inclusion of innovative drug directories in commercial health insurance is expected to enhance the multi-tiered medical security system and provide economic support for the development of innovative drugs [1][2] - The stock market reacted positively, with significant gains in innovative drug concept stocks and ETFs, indicating strong investor interest and liquidity in this sector [1][2] Industry Developments - The establishment of a commercial insurance innovative drug directory marks a significant step in enhancing the role of commercial insurance in the multi-tiered medical security system, providing payment support for high-priced innovative drugs and medical devices [2] - The "18A" policy has catalyzed a wave of medical companies listing in Hong Kong, focusing on cutting-edge medical industry directions, which has attracted market attention and investment [2] Market Performance - The Hong Kong innovative drug ETF (513120) saw a rise of over 2%, with a trading volume of 4.1 billion yuan, leading the market in the pharmaceutical ETF category [1] - The latest scale of the Hong Kong innovative drug ETF reached 13.4 billion yuan, indicating its leading position in the market [1] - The innovative drug ETF (515120) also performed well, with a trading volume of 145 million yuan and a net inflow of nearly 200 million yuan over five consecutive days [1]