156份券商研报密集透视“十五五” 这些领域成共识

Core Viewpoint - The "14th Five-Year Plan" is entering a critical window, with the 20th Central Committee's Fourth Plenary Session held from October 20 to 23, drawing significant market attention and prompting numerous brokerages to release research reports analyzing its potential impact on the capital market [1] Group 1: Market Trends and Opportunities - The capital market is expected to show a "long-term" and "steady" trend during the "15th Five-Year Plan," with key areas of focus including digital technology, space economy, high-end manufacturing, domestic consumption, and biotechnology [2] - The "15th Five-Year Plan" is anticipated to create investment opportunities driven by the restructuring of the global monetary system, the AI wave, and China's manufacturing advantages [2] - The "15th Five-Year Plan" may emphasize "investing in people," leading to significant market changes and opportunities in consumption, education, healthcare, and skills training [3] Group 2: Economic Growth and Policy Focus - The average GDP growth rate needs to be maintained at over 4.5% to achieve the goal of doubling GDP by 2035, with a focus on modernizing the industrial system and expanding domestic demand [4][5] - The "15th Five-Year Plan" is expected to prioritize policy measures that enhance investment efficiency, establish a comprehensive productivity index system, and ensure high-level security across various sectors [6] - The plan may further strengthen the focus on technology, with potential beneficiaries in sectors such as computing, electronics, and renewable energy [7] Group 3: Strategic Goals and Recommendations - The core strategic goals for the "15th Five-Year Plan" include maintaining reasonable economic growth, improving labor productivity, increasing R&D investment intensity, and enhancing green transformation efforts [8][9] - Six policy recommendations include building a modern industrial system centered on new productivity, deepening reform and opening up, promoting green low-carbon transformation, and enhancing governance efficiency [9][10] - The "15th Five-Year Plan" is positioned as a critical five-year period for achieving high-quality economic development, green transformation, and key sector reforms [12][13]