20cm速递｜科创综指ETF国泰（589630）涨超1.2%，市场关注科创板改革举措落地影响

Core Viewpoint - The Central Urban Work Conference signals a marginal tightening of overall policy, emphasizing an industrial layout guided by "acting according to rules," which brings structural benefits to the technology sector [1] Group 1: Policy and Market Environment - The U.S. has allowed NVIDIA to resume exports of H20 AI chips to China, coupled with signals of easing U.S.-China relations from the People's Daily, indicating a sustainable rebound for tech stocks [1] - The Ministry of Industry and Information Technology's recent guidance documents for stable growth in the industry serve as directional guidance rather than strong stimulus, avoiding a repeat of the cyclical commodity market from the 2016 supply-side reform [1] - The Yarlung Tsangpo River hydropower project has greater strategic significance, indicating signals of non-traditional infrastructure expansion [1] Group 2: Sector Performance and Investment Opportunities - The policy focus in the third quarter shifts towards structural optimization, with technology and military sectors showing strong elasticity due to policy support and improved external conditions, while breakthroughs in AI technology further bolster the rebound momentum in the tech sector [1] - The Guotai Science and Technology Innovation Index ETF (589630) tracks the Science and Technology Innovation Index (000680), with a daily fluctuation limit of 20%. This index reflects the overall performance of the Science and Technology Innovation Board, covering nearly all listed companies with a market capitalization coverage rate of approximately 97% [1] - The constituent stocks of the index emphasize technological innovation capabilities, representing the development trend of China's high-tech industry [1] - Investors without stock accounts can consider Guotai's Science and Technology Innovation Board Comprehensive ETF Initiating Link A (023733) and Link C (023734) [1]