反内卷治理不断深入，石化ETF（159731）打开低位布局窗口

Core Viewpoint - The petrochemical industry is experiencing fluctuations, with the China Securities Petrochemical Industry Index declining approximately 1.1%. However, certain stocks like Bluestar Technology and Tongcheng New Materials are leading gains. The Petrochemical ETF has seen significant net inflows, totaling 17.53 million yuan over the past 10 trading days [1][2]. Group 1: Industry Developments - The Ministry of Industry and Information Technology has initiated a project to identify key innovative tasks for fine chemicals by 2025, focusing on critical demand areas such as new energy vehicles, medical equipment, mobile communication devices, rail transportation, and marine engineering [1]. - The project aims to select a batch of units with strong innovation capabilities to tackle 50 advanced and high-value fine chemical products, categorized into three main types: intermediate raw materials, key materials, and critical equipment [1]. Group 2: Policy Impact - The central government has emphasized the need to "comprehensively rectify involution-style competition," with this goal included in the 2025 government work report, indicating a deeper commitment to addressing this issue [1]. - According to Zhongyuan Securities, the ongoing rectification of involution in the chemical industry is expected to improve overall supply and demand, facilitating further quality upgrades within the industry [1]. Group 3: ETF and Sector Composition - The Petrochemical ETF (159731) and its linked funds closely track the China Securities Petrochemical Industry Index, with the basic chemical industry accounting for 60.8% and the petroleum and petrochemical industry for 32.2% of the sector distribution [2]. - These sectors are anticipated to benefit significantly from policies aimed at reducing involution, restructuring, and eliminating outdated production capacity [2].