国资委部署央企“十五五”规划编制，强调增强核心功能与竞争力，港股央企红利ETF（513910）或再迎布局机遇期

Core Viewpoint - The State-owned Assets Supervision and Administration Commission (SASAC) emphasizes the goal of strengthening, optimizing, and expanding state-owned capital during the "14th Five-Year Plan" period, aiming to enhance the core functions and competitiveness of central enterprises [1] Group 1: Strategic Goals - SASAC aims to achieve qualitative improvements and reasonable quantitative growth for central enterprises, accelerating the modernization of the industrial system and the development of world-class enterprises [1] - The focus on strengthening state-owned capital is expected to provide a long-term growth foundation for related companies [1] Group 2: Market Analysis - Analysts believe that the emphasis on enhancing core competitiveness and accelerating industrial upgrades will systematically strengthen the profitability and dividend capacity of central enterprises [1] - Currently, Hong Kong-listed central enterprises exhibit low valuations and high dividend yields, which may lead to valuation increases and sustained dividend growth under the policy direction of improving performance and shareholder returns [1] Group 3: Investment Opportunities - The CSI Hong Kong Stock Connect Central Enterprise Dividend Index includes 50 listed companies with stable dividend levels and high dividend yields, with a one-year dividend yield of 5.77%, surpassing the 10-year government bond yield of 3.92% [1] - The Hong Kong Central Enterprise Dividend ETF (513910) is the largest investment vehicle tracking this index [1]