“十五五”规划展望系列-前瞻布局新质生产力主题投资

Core Insights - The "14th Five-Year Plan" is set to launch, focusing on a strategic blueprint for China's development over the next five years and beyond, emphasizing the importance of new quality productivity as a core national strategy [1] - New quality productivity encompasses not only technological innovation but also a systemic leap in production methods, industrial structure, and growth dynamics, driven by technological advancements [1] - The report identifies three main areas for new quality productivity: strategic emerging industries, traditional industry upgrades through digital technologies, and the digital economy [1] Group 1: New Quality Productivity - New quality productivity is characterized by high-tech, high-efficiency, and high-quality advancements, significantly enhancing total factor productivity to address challenges like aging population and global tech competition [1] - Key sectors include strategic emerging industries such as new generation information technology, renewable energy, biotechnology, and advanced equipment, along with future industries in manufacturing, information, energy, space, health, and materials [1] - Cutting-edge fields like humanoid robots, quantum computing, 6G, brain-computer interfaces, commercial aerospace, low-altitude economy, and deep-sea technology are expected to create trillion-level market opportunities [1] Group 2: Capital Market Response - The capital market has already recognized opportunities, with the new quality productivity theme index showing a cumulative increase of 92.23% from September 2024 to September 2025, outperforming the broader market [2] - Sub-sectors such as cloud computing, computing power, artificial intelligence, and integrated circuits have shown particularly strong performance, with institutions favoring sectors like electronics, pharmaceuticals, and power equipment [2] - Ongoing reforms in the capital market, including the support for new quality productivity enterprises through various financial mechanisms, are expected to create a virtuous cycle of technology, industry, and finance [2]