券商看全会丨四中全会公报释放哪些信号？八大券商解读

Group 1 - The "New Quality Productivity" has been incorporated into the planning framework for the first time, emphasizing the acceleration of high-level technological self-reliance and innovation [3] - The 14th, 15th, and 16th Five-Year Plans will collectively aim to achieve basic socialist modernization by 2035, with the 15th Five-Year Plan being a crucial transitional period [4][5] - The average GDP growth target for the 15th Five-Year Plan is set at 5%, reflecting the need to balance economic power dynamics and financial risk management [5] Group 2 - The focus on the development of five major city clusters has been reiterated, highlighting the importance of regional strategies and their complementary effects [6] - The 15th Five-Year Plan is expected to navigate a new economic model, with three main lines of focus: technological innovation, expanding domestic demand, and enhancing openness [7] - The goal of achieving a per capita GDP level comparable to that of moderately developed countries by 2035 has been reaffirmed, necessitating a compound nominal growth rate of over 6% in the next decade [8] Group 3 - The emphasis on maintaining a reasonable proportion of the manufacturing sector has been highlighted, with a focus on building a modern industrial system [10][13] - The need for original innovation and addressing key core technology challenges has been underscored, aiming to establish a leading advantage in global technological innovation [14]