医疗ETF（159828）盘中涨超1.7%，政策优化成行业复苏关键

Group 1 - The pharmaceutical and biotechnology industry is entering the latter stage of quality improvement and expansion in centralized procurement, with a focus on both pricing mechanisms and quality supervision [1] - The national centralized procurement has covered a total of 435 varieties, with the eleventh batch focusing on 55 clinically mature drugs, aiming to ensure clinical accessibility and standard consistency through institutional innovation [1] - As procurement rules continue to optimize and pricing mechanisms become more reasonable, leading domestic companies are expected to achieve market share growth and structural expansion through compliance and innovation capabilities [1] Group 2 - The medical insurance fund's revenue growth has turned positive year-on-year, with a projected increase of 2.92% in income and 0.51% in expenditure from January to November 2025, indicating stable overall fund operation [1] - Ongoing medical reforms are expected to advance from inpatient DRGs to outpatient APGs, with the construction of a multi-tiered payment system for innovative drugs in commercial insurance, shifting the focus of medical insurance management from "scale" to "value" [1] - The medical ETF (159828) tracks the CSI Medical Index (399989), which selects listed companies involved in medical devices, medical services, and medical information technology to reflect the overall performance of the medical theme-related securities [1]