建筑行业周报：高层强调保证全年经济增长，关注政策落地实效

Investment Rating - The report maintains a positive outlook on the construction and decoration industry, with an investment rating of "Positive" [3]. Core Insights - The construction and decoration sector outperformed the broader market, with the SW Construction Decoration Index rising by 1.40%, while the Shanghai Composite Index fell by 1.68% [4][5]. - Key sub-sectors showing significant weekly gains include decorative curtain walls (+9.57%), ecological landscaping (+7.95%), and infrastructure private enterprises (+4.92%) [4][5]. - Major companies such as China Communications Construction Company and China Railway Construction Corporation are highlighted for their potential due to government investment initiatives [3][15]. Summary by Sections 1. Market Performance - The construction industry recorded a weekly increase of 1.40%, outperforming major indices like the Shanghai Composite and Shenzhen Component [4][5]. - The top three sub-sectors for weekly performance were decorative curtain walls (+9.57%), ecological landscaping (+7.95%), and infrastructure private enterprises (+4.92%) [4][5]. 2. Industry Changes - Recent statements from Xi Jinping emphasize the need for local governments to implement policies effectively to achieve economic growth targets [13][14]. - The Ministry of Housing and Urban-Rural Development has issued a framework for urban digital public infrastructure standards, aiming to accelerate construction in this area [13][14]. 3. Key Company Updates - China Railway Construction Corporation reported a 5.99% decline in revenue and a 19.12% drop in net profit for Q1-Q3 2024 [15][16]. - China Communications Construction Company experienced a 2.26% decrease in revenue and a 0.61% decline in net profit during the same period [15][16]. - China Chemical Engineering Corporation saw a 2.34% increase in revenue and a 3.09% rise in net profit for Q1-Q3 2024 [15][16]. 4. Investment Recommendations - The report recommends focusing on state-owned enterprises like China Railway and China Railway Construction, as well as companies in the international engineering sector such as China Steel International and China National Materials [3][15].