双目录打通支付瓶颈，创新药迎历史性拐点，易方达恒生创新药ETF联接备受关注

Core Viewpoint - The A-share and Hong Kong stock markets are experiencing a strong rally, particularly in the innovative drug sector, which is gaining traction due to favorable policies and market dynamics [1][2]. Group 1: Market Performance - The A-share indices collectively surged, with the Shanghai Composite Index breaking its high from October 8 last year, reaching a nearly four-year high, while the ChiNext Index rose by 3.62% [1]. - The Hong Kong innovative drug sector also saw significant gains, with the Hang Seng Innovative Drug ETF (159316) increasing by 3.64% in a single day [1]. Group 2: Investment Opportunities - The E Fund Hang Seng Stock Connect Innovative Drug ETF Linked Fund (A: 024328; C: 024329) is highlighted as an effective tool for investors to capitalize on the innovative drug market, characterized by low entry barriers and dual policy catalysts [1]. - The fund closely tracks the Hang Seng Stock Connect Innovative Drug Index, which has been revised to focus solely on companies holding core patents, thus avoiding distractions from non-core businesses [2]. Group 3: Industry Trends - The gap in innovative drug research and development between China and the U.S. has narrowed from 10 years to 3.7 years, with China's share of high-impact papers in synthetic biology rising from 13% to 31% [2]. - The recent policy changes have facilitated the inclusion of high-value innovative drugs in insurance directories, addressing previous challenges related to high-priced drugs entering the market [1][2].